Fidelity Disruptive Technology ETF (NASDAQ:FDTX) Stock Price Down 4.8% – Time to Sell?

Fidelity Disruptive Technology ETF (NASDAQ:FDTX) shares dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $55.01 and last traded at $55.35. Approximately 98,888 shares traded hands during mid-day trading, an increase of 237% from the average daily volume of 29,338 shares. The stock had previously closed at $58.15.

Fidelity Disruptive Technology ETF Price Performance

The business has a 50 day simple moving average of $50.41 and a 200 day simple moving average of $43.41. The company has a market cap of $260.14 million, a price-to-earnings ratio of 36.21 and a beta of 1.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDTX. Jane Street Group LLC grew its holdings in Fidelity Disruptive Technology ETF by 545.6% during the 1st quarter. Jane Street Group LLC now owns 46,044 shares of the company’s stock worth $1,450,000 after acquiring an additional 38,912 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fidelity Disruptive Technology ETF by 693.0% in the second quarter. JPMorgan Chase & Co. now owns 94,815 shares of the company’s stock worth $3,699,000 after acquiring an additional 82,859 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Fidelity Disruptive Technology ETF by 24.9% during the third quarter. Envestnet Asset Management Inc. now owns 8,031 shares of the company’s stock worth $326,000 after purchasing an additional 1,600 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Fidelity Disruptive Technology ETF during the third quarter worth approximately $421,000. Finally, Creative Planning bought a new stake in shares of Fidelity Disruptive Technology ETF during the third quarter valued at approximately $211,000.

Fidelity Disruptive Technology ETF Company Profile

The Fidelity Disruptive Technology ETF (FDTX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in innovative businesses believed to have the potential for market disruption. The fund holds global disruptive technology companies, from machine learning to next-generation hardware and AI. FDTX was launched on Apr 16, 2020 and is managed by Fidelity.