Gainline Financial Partners LLC Takes $17.45 Million Position in Fidelity Total Bond ETF $FBND

Gainline Financial Partners LLC purchased a new position in Fidelity Total Bond ETF (NYSEARCA:FBND) in the second quarter, Holdings Channel reports. The fund purchased 383,552 shares of the company’s stock, valued at approximately $17,448,000. Fidelity Total Bond ETF accounts for approximately 16.3% of Gainline Financial Partners LLC’s portfolio, making the stock its 2nd biggest position.

Other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its position in Fidelity Total Bond ETF by 16.2% during the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock valued at $1,598,339,000 after purchasing an additional 4,830,198 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Fidelity Total Bond ETF by 3.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 89,517,143 shares of the company’s stock valued at $4,139,273,000 after buying an additional 3,390,440 shares during the period. Align Financial LLC purchased a new stake in Fidelity Total Bond ETF in the 4th quarter worth approximately $141,726,000. JPMorgan Chase & Co. lifted its position in Fidelity Total Bond ETF by 25.8% in the 4th quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock worth $532,882,000 after buying an additional 2,374,913 shares in the last quarter. Finally, Legacy Wealth Management LLC boosted its stake in shares of Fidelity Total Bond ETF by 57.0% during the 2nd quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock valued at $249,987,000 after buying an additional 1,995,732 shares during the period.

Fidelity Total Bond ETF Price Performance

Fidelity Total Bond ETF stock opened at $44.71 on Friday. The company’s fifty day simple moving average is $45.06 and its 200-day simple moving average is $45.53. Fidelity Total Bond ETF has a 12 month low of $44.59 and a 12 month high of $46.86. The stock has a market cap of $27.09 billion, a P/E ratio of 8.94 and a beta of 0.27.

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.