Financial Advocates Investment Management Acquires Additional Shares in Fidelity Total Bond ETF

Financial Advocates Investment Management recently upped their investment in the Fidelity Total Bond ETF by 6.5%, as reported in its filing with the Securities & Exchange Commission. This increase in the third quarter boosted their total share count to 5,813, after the purchase of an additional 353 shares. Consequently, the value of Financial Advocates Investment Management's stake in the ETF stood at $253,000 by the close of the latest reporting period.

The Context of the Investment

Beyond Financial Advocates Investment Management, other hedge funds and institutional investors have also been adjusting their positions in the Fidelity Total Bond ETF. Bank of Montreal Can, for instance, amplified its holdings by 35.7% in the first quarter, owning a total of 5,289 shares valued at approximately $263,000. Similarly, Cetera Investment Advisers increased its stake by 13.7%, reaching 8,750 shares worth around $435,000. NewEdge Advisors LLC and Laurel Wealth Advisors Inc. also reported significant holdings increases in the same period. Notably, Founders Financial Securities LLC commenced a new stake worth roughly $9,283,000 in the ETF during the first quarter.

Market Performance and Dividend Increase

The Fidelity Total Bond ETF trading price opened at $45.93 on a recent Monday, indicating an uptick of 0.3%. The ETF stands with a $4.40 billion market cap, a price-to-earnings ratio of 12.64, and a relatively stable beta of 0.17. It has seen a 52-week fluctuation between a low of $42.45 and a high of $46.96. Additionally, the ETF increased its dividend payout to $0.177 per share, marking a rise from the previous $0.15 per share. Investors who were recorded on October 30th received this dividend, which had an ex-dividend date of October 27th.

About Fidelity Total Bond ETF

The Fidelity Total Bond ETF, known as FBND, is an actively managed exchange-traded fund replicating the Bloomberg U.S. Universal Bond index. Since its inception on October 6, 2014, the fund has sought to match the index's sector allocation and duration exposure, aiming to provide broad market exposure to bond investors. It is managed by Fidelity Investments, one of the leading financial services corporations.

Investment, Fidelity, ETF