Modern Wealth Management LLC Purchases Shares of 1,075,293 Fidelity Total Bond ETF (NYSEARCA:FBND)

Modern Wealth Management LLC acquired a new position in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,075,293 shares of the company’s stock, valued at approximately $48,603,000. Fidelity Total Bond ETF accounts for 1.7% of Modern Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Modern Wealth Management LLC owned about 0.54% of Fidelity Total Bond ETF at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FBND. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Fidelity Total Bond ETF during the third quarter worth approximately $25,000. PNC Financial Services Group Inc. acquired a new position in Fidelity Total Bond ETF in the 4th quarter valued at $25,000. Lindbrook Capital LLC bought a new position in Fidelity Total Bond ETF during the 4th quarter worth $32,000. Rothschild Investment LLC acquired a new stake in shares of Fidelity Total Bond ETF during the fourth quarter worth $63,000. Finally, Glassman Wealth Services acquired a new stake in shares of Fidelity Total Bond ETF during the fourth quarter worth $70,000.

Fidelity Total Bond ETF Stock Performance

FBND stock opened at $45.55 on Tuesday. Fidelity Total Bond ETF has a 52 week low of $44.01 and a 52 week high of $47.30. The company has a market capitalization of $18.19 billion, a PE ratio of 9.03 and a beta of 0.26. The company’s 50-day simple moving average is $45.34 and its 200 day simple moving average is $45.66.

Fidelity Total Bond ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, February 27th were issued a dividend of $0.163 per share. The ex-dividend date was Thursday, February 27th.

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.