Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Shares Down 1.7% – Time to Sell?

Fidelity Disruptive Medicine ETF (NASDAQ:FMED) dropped 1.7% during trading on Friday . The stock traded as low as $25.50 and last traded at $25.50. Approximately 4,080 shares were traded during trading, a decline of 22% from the average daily volume of 5,239 shares. The stock had previously closed at $25.95.

Fidelity Disruptive Medicine ETF Stock Down 1.7%

The stock has a market cap of $56.10 million, a P/E ratio of 41.33 and a beta of 1.00. The business’s 50-day simple moving average is $25.41 and its two-hundred day simple moving average is $24.33.

Institutional Investors Weigh In On Fidelity Disruptive Medicine ETF

A hedge fund recently raised its stake in Fidelity Disruptive Medicine ETF stock. Wealth Enhancement Advisory Services LLC increased its stake 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 SEC. The institutional investor owned 688,750 shares of the company’s stock after purchasing an additional 76,538 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 31.31% of Fidelity Disruptive Medicine ETF worth $16,544,000 at the end of the most recent quarter.

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.