Summit Financial Strategies Inc. Has $74.32 Million Stock Position in Fidelity Total Bond ETF (NYSEARCA:FBND)

Summit Financial Strategies Inc. boosted its holdings in Fidelity Total Bond ETF (NYSEARCA:FBND) by 22.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,590,011 shares of the company’s stock after purchasing an additional 294,272 shares during the quarter. Fidelity Total Bond ETF comprises 8.4% of Summit Financial Strategies Inc.’s portfolio, making the stock its 3rd largest position. Summit Financial Strategies Inc.’s holdings in Fidelity Total Bond ETF were worth $74,317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FBND. Cornerstone Wealth Management LLC grew its stake in shares of Fidelity Total Bond ETF by 1.4% in the third quarter. Cornerstone Wealth Management LLC now owns 156,044 shares of the company’s stock worth $7,294,000 after acquiring an additional 2,111 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in Fidelity Total Bond ETF by 12.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 255,463 shares of the company’s stock worth $11,813,000 after purchasing an additional 27,730 shares in the last quarter. Sentinel Pension Advisors Inc. grew its position in Fidelity Total Bond ETF by 4.4% during the 3rd quarter. Sentinel Pension Advisors Inc. now owns 293,087 shares of the company’s stock valued at $13,699,000 after purchasing an additional 12,304 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its stake in Fidelity Total Bond ETF by 256.5% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 1,355,457 shares of the company’s stock valued at $63,354,000 after purchasing an additional 975,262 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its stake in Fidelity Total Bond ETF by 8.9% during the 3rd quarter. Opal Wealth Advisors LLC now owns 66,632 shares of the company’s stock valued at $3,114,000 after purchasing an additional 5,468 shares in the last quarter.

Fidelity Total Bond ETF Stock Performance

Shares of NYSEARCA:FBND traded down $0.19 during trading on Thursday, reaching $46.10. 205,573 shares of the stock traded hands, compared to its average volume of 1,338,934. The stock has a market cap of $9.20 billion, a P/E ratio of 8.85 and a beta of 0.19. The stock has a 50-day moving average of $46.59 and a two-hundred day moving average of $45.58. Fidelity Total Bond ETF has a 52-week low of $42.45 and a 52-week high of $47.30.

Fidelity Total Bond ETF Profile

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.