Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Strong Trading Volume – Still a Buy?

Shares of Fidelity High Yield Factor ETF (NYSEARCA:FDHY) saw strong trading volume on Thursday . Approximately 55,905 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 79,820 shares.The stock last traded at $49.06 and had previously closed at $48.99.

Fidelity High Yield Factor ETF Trading Up 0.2%

The stock’s 50-day simple moving average is $49.16 and its two-hundred day simple moving average is $49.22.

Institutional Trading of Fidelity High Yield Factor ETF

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in Fidelity High Yield Factor ETF by 17.5% in the 4th quarter. LPL Financial LLC now owns 503,214 shares of the company’s stock worth $24,824,000 after buying an additional 74,936 shares during the period. Geneva Partners LLC acquired a new stake in shares of Fidelity High Yield Factor ETF in the first quarter worth $3,402,000. Financial Management Professionals Inc. grew its stake in shares of Fidelity High Yield Factor ETF by 10.7% in the fourth quarter. Financial Management Professionals Inc. now owns 451,872 shares of the company’s stock worth $22,427,000 after acquiring an additional 43,498 shares during the last quarter. Wise Wealth Partners bought a new position in Fidelity High Yield Factor ETF during the fourth quarter worth $1,801,000. Finally, Advisory Services Network LLC increased its position in Fidelity High Yield Factor ETF by 21.9% during the fourth quarter. Advisory Services Network LLC now owns 188,681 shares of the company’s stock worth $9,308,000 after acquiring an additional 33,937 shares during the period.

Fidelity High Yield Factor ETF Company Profile

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.