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

Fidelity Quality Factor ETF (NYSEARCA:FQAL) saw unusually-strong trading volume on Tuesday. Approximately 177,856 shares changed hands during mid-day trading, an increase of 165% from the average daily volume of 67,052 shares. The stock last traded at $82.4890 and had previously closed at $83.24.

Fidelity Quality Factor ETF Trading Down 0.9%

The firm has a 50 day simple moving average of $84.02 and a 200 day simple moving average of $80.26. The firm has a market capitalization of $1.57 billion, a PE ratio of 25.46 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FQAL. HighTower Advisors LLC purchased a new stake in shares of Fidelity Quality Factor ETF during the third quarter valued at $620,000. Silver Oak Securities Incorporated purchased a new position in Fidelity Quality Factor ETF in the 3rd quarter worth about $2,227,000. Valmark Advisers Inc. bought a new position in Fidelity Quality Factor ETF during the 3rd quarter valued at about $1,141,000. Lido Advisors LLC bought a new position in Fidelity Quality Factor ETF during the 3rd quarter valued at about $1,451,000. Finally, Brighton Jones LLC bought a new position in Fidelity Quality Factor ETF during the 3rd quarter valued at about $250,000.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.