Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Stock Price Up 0.4% – Still a Buy?

Fidelity Disruptive Medicine ETF (NASDAQ:FMED)’s share price rose 0.4% on Wednesday . The company traded as high as $27.61 and last traded at $27.61. Approximately 1,172 shares changed hands during trading, a decline of 79% from the average daily volume of 5,551 shares. The stock had previously closed at $27.50.

Fidelity Disruptive Medicine ETF Stock Performance

The firm has a market capitalization of $60.74 million, a PE ratio of 41.33 and a beta of 1.00. The stock has a fifty day moving average price of $27.26 and a 200-day moving average price of $25.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fidelity Disruptive Medicine ETF stock. Wealth Enhancement Advisory Services LLC raised its position in Fidelity Disruptive Medicine ETF (NASDAQ:FMED) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 688,750 shares of the company’s stock after acquiring an additional 76,538 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 31.31% of Fidelity Disruptive Medicine ETF worth $16,544,000 as of its most recent filing with the Securities & Exchange Commission.

About Fidelity Disruptive Medicine ETF

The Fidelity Disruptive Medicine ETF (FMED) is an exchange-traded fund that mostly invests in health care equity. The fund is an actively managed fund that invests in companies involved in disruptive innovation in Health Care. The fund invests in securities of domestic and foreign issuers FMED was launched on Apr 16, 2020 and is managed by Fidelity.