Kovack Advisors Inc. Buys Shares of 8,138 Fidelity Total Bond ETF (NYSEARCA:FBND)

Kovack Advisors Inc. purchased a new position in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,138 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors have also modified their holdings of FBND. Northwest Investment Counselors LLC acquired a new stake in shares of Fidelity Total Bond ETF during the third quarter valued at about $30,000. Transcendent Capital Group LLC acquired a new stake in Fidelity Total Bond ETF in the 2nd quarter valued at approximately $32,000. Highline Wealth Partners LLC purchased a new stake in Fidelity Total Bond ETF in the third quarter valued at approximately $47,000. Strategic Financial Concepts LLC acquired a new position in Fidelity Total Bond ETF during the second quarter worth $49,000. Finally, Bell Investment Advisors Inc acquired a new position in Fidelity Total Bond ETF during the second quarter worth $55,000.

Fidelity Total Bond ETF Stock Performance

Shares of NYSEARCA FBND opened at $45.34 on Friday. The stock has a fifty day simple moving average of $46.28 and a 200-day simple moving average of $45.73. Fidelity Total Bond ETF has a twelve month low of $43.76 and a twelve month high of $47.30. The stock has a market capitalization of $9.05 billion, a PE ratio of 8.85 and a beta of 0.19.

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.