Tower Wealth Partners Inc. Has $3.08 Million Position in Fidelity Total Bond ETF (NYSEARCA:FBND)

Tower Wealth Partners Inc. raised its holdings in Fidelity Total Bond ETF (NYSEARCA:FBND) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,559 shares of the company’s stock after buying an additional 852 shares during the period. Fidelity Total Bond ETF accounts for about 1.6% of Tower Wealth Partners Inc.’s portfolio, making the stock its 12th largest holding. Tower Wealth Partners Inc.’s holdings in Fidelity Total Bond ETF were worth $3,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new stake in Fidelity Total Bond ETF in the 4th quarter valued at $25,000. NBC Securities Inc. acquired a new stake in Fidelity Total Bond ETF in the 1st quarter valued at $28,000. Lindbrook Capital LLC acquired a new stake in Fidelity Total Bond ETF in the 4th quarter valued at $32,000. Tucker Asset Management LLC acquired a new stake in Fidelity Total Bond ETF in the 4th quarter valued at $36,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Fidelity Total Bond ETF in the 4th quarter valued at $59,000.

Fidelity Total Bond ETF Trading Down 0.5%

Shares of FBND stock opened at $45.01 on Friday. Fidelity Total Bond ETF has a 1 year low of $44.30 and a 1 year high of $47.30. The firm’s fifty day moving average price is $45.18 and its two-hundred day moving average price is $45.29. The firm has a market capitalization of $18.22 billion, a P/E ratio of 8.94 and a beta of 0.27.

Fidelity Total Bond ETF Profile

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.