Summit Financial Strategies Inc. Acquires 157,574 Shares of Fidelity Total Bond ETF $FBND

Summit Financial Strategies Inc. grew its holdings in Fidelity Total Bond ETF (NYSEARCA:FBND) by 7.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,384,200 shares of the company’s stock after buying an additional 157,574 shares during the period. Fidelity Total Bond ETF accounts for about 7.6% of Summit Financial Strategies Inc.’s holdings, making the stock its 4th biggest holding. Summit Financial Strategies Inc. owned 0.39% of Fidelity Total Bond ETF worth $108,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Fidelity Total Bond ETF by 3.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock valued at $4,256,067,000 after acquiring an additional 2,925,667 shares during the last quarter. Morgan Stanley increased its holdings in shares of Fidelity Total Bond ETF by 16.2% in 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 during the last quarter. Bank of America Corp DE increased its holdings in shares of Fidelity Total Bond ETF by 6.3% in the first quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after purchasing an additional 871,672 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Fidelity Total Bond ETF by 25.8% during the fourth quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock worth $532,882,000 after buying an additional 2,374,913 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Fidelity Total Bond ETF by 25.2% during the fourth quarter. LPL Financial LLC now owns 9,387,074 shares of the company’s stock worth $432,181,000 after buying an additional 1,887,404 shares during the last quarter.

Fidelity Total Bond ETF Stock Down 0.1%

Shares of FBND opened at $44.67 on Wednesday. Fidelity Total Bond ETF has a 52-week low of $44.59 and a 52-week high of $46.86. The company has a market capitalization of $27.06 billion, a PE ratio of 8.94 and a beta of 0.27. The stock has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $45.50.

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.