Navalign LLC Boosts Position in Fidelity Total Bond ETF $FBND

Navalign LLC lifted its stake in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,030,049 shares of the company’s stock after acquiring an additional 39,507 shares during the quarter. Fidelity Total Bond ETF makes up approximately 11.9% of Navalign LLC’s holdings, making the stock its biggest position. Navalign LLC owned about 0.18% of Fidelity Total Bond ETF worth $46,991,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBND. Morgan Stanley lifted its holdings in Fidelity Total Bond ETF by 16.2% during the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock valued at $1,598,339,000 after purchasing an additional 4,830,198 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Fidelity Total Bond ETF by 3.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 89,517,143 shares of the company’s stock worth $4,139,273,000 after purchasing an additional 3,390,440 shares in the last quarter. Align Financial LLC purchased a new stake in shares of Fidelity Total Bond ETF in the fourth quarter worth $141,726,000. JPMorgan Chase & Co. raised its position in shares of Fidelity Total Bond ETF by 25.8% during the 4th quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock valued at $532,882,000 after purchasing an additional 2,374,913 shares during the period. Finally, Dynasty Wealth Management LLC raised its position in shares of Fidelity Total Bond ETF by 30.0% during the 4th quarter. Dynasty Wealth Management LLC now owns 8,650,398 shares of the company’s stock valued at $398,264,000 after purchasing an additional 1,993,799 shares during the period.

Fidelity Total Bond ETF Stock Performance

FBND opened at $45.29 on Wednesday. Fidelity Total Bond ETF has a fifty-two week low of $44.82 and a fifty-two week high of $46.86. The firm’s fifty day moving average is $45.51 and its 200 day moving average is $45.89. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27.

About Fidelity Total Bond ETF

The Fidelity Total Bond ETF (FBND) is an exchange-traded fund that is based on the Bloomberg U.S. Universal Bond index. The fund is an actively managed broad market bond fund that uses the Barclays US Universal Bond Index to guide its sector allocation and duration exposure. FBND was launched on Oct 6, 2014 and is managed by Fidelity.