Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Fidelity High Yield Factor ETF (NYSEARCA:FDHY) saw unusually-strong trading volume on Thursday . Approximately 249,612 shares changed hands during trading, an increase of 212% from the previous session’s volume of 80,040 shares.The stock last traded at $48.74 and had previously closed at $48.85.

Fidelity High Yield Factor ETF Price Performance

The stock has a 50-day moving average of $49.02 and a two-hundred day moving average of $49.06.

Institutional Investors Weigh In On Fidelity High Yield Factor ETF

A number of hedge funds have recently made changes to their positions in FDHY. LPL Financial LLC raised its position in Fidelity High Yield Factor ETF by 17.5% in the 4th quarter. LPL Financial LLC now owns 503,214 shares of the company’s stock worth $24,824,000 after purchasing an additional 74,936 shares during the period. Investors Research Corp bought a new position in shares of Fidelity High Yield Factor ETF during the second quarter valued at about $10,597,000. Advisory Services Network LLC increased its holdings in shares of Fidelity High Yield Factor ETF by 21.9% in the fourth quarter. Advisory Services Network LLC now owns 188,681 shares of the company’s stock worth $9,308,000 after buying an additional 33,937 shares during the period. Strengthening Families & Communities LLC purchased a new position in shares of Fidelity High Yield Factor ETF in the second quarter worth about $7,812,000. Finally, Moody National Bank Trust Division lifted its stake in shares of Fidelity High Yield Factor ETF by 1.8% in the 2nd quarter. Moody National Bank Trust Division now owns 118,644 shares of the company’s stock valued at $5,817,000 after acquiring an additional 2,112 shares during the last quarter.

About Fidelity High Yield Factor ETF

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.