Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Strong Trading Volume – Still a Buy?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) saw unusually-strong trading volume on Thursday . Approximately 160,732 shares traded hands during trading, an increase of 201% from the previous session’s volume of 53,380 shares.The stock last traded at $59.22 and had previously closed at $62.14.

Fidelity Quality Factor ETF Price Performance

The business’s fifty day moving average price is $65.14 and its 200-day moving average price is $65.98. The stock has a market capitalization of $995.65 million, a price-to-earnings ratio of 25.37 and a beta of 0.99.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

Several institutional investors have recently modified their holdings of FQAL. Independent Advisor Alliance grew its holdings in Fidelity Quality Factor ETF by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 18,591 shares of the company’s stock valued at $1,216,000 after purchasing an additional 197 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Fidelity Quality Factor ETF by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,402 shares of the company’s stock valued at $2,168,000 after purchasing an additional 245 shares in the last quarter. Mariner LLC increased its holdings in shares of Fidelity Quality Factor ETF by 1.7% in the fourth quarter. Mariner LLC now owns 15,671 shares of the company’s stock worth $1,025,000 after purchasing an additional 258 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Fidelity Quality Factor ETF by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,660 shares of the company’s stock valued at $2,528,000 after buying an additional 308 shares during the period. Finally, Atlas Brown Inc. increased its stake in Fidelity Quality Factor ETF by 5.7% in the 1st quarter. Atlas Brown Inc. now owns 7,026 shares of the company’s stock worth $451,000 after acquiring an additional 377 shares during the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.