Sagespring Wealth Partners LLC Invests $395.30 Million in Fidelity Total Bond ETF (NYSEARCA:FBND)

Sagespring Wealth Partners LLC acquired a new position in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,809,902 shares of the company’s stock, valued at approximately $395,300,000. Fidelity Total Bond ETF makes up 4.2% of Sagespring Wealth Partners LLC’s portfolio, making the stock its 4th biggest position. Sagespring Wealth Partners LLC owned about 4.41% of Fidelity Total Bond ETF as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Fidelity Total Bond ETF in the fourth quarter worth about $196,442,000. JPMorgan Chase & Co. boosted its stake in Fidelity Total Bond ETF by 39.2% in the 4th quarter. JPMorgan Chase & Co. now owns 7,194,319 shares of the company’s stock worth $322,809,000 after purchasing an additional 2,024,839 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Fidelity Total Bond ETF during the 4th quarter valued at approximately $78,895,000. Dynasty Wealth Management LLC raised its holdings in shares of Fidelity Total Bond ETF by 142.1% in the fourth quarter. Dynasty Wealth Management LLC now owns 2,940,413 shares of the company’s stock worth $131,936,000 after buying an additional 1,725,938 shares during the last quarter. Finally, Modern Wealth Management LLC purchased a new position in shares of Fidelity Total Bond ETF in the fourth quarter worth $48,603,000.

Fidelity Total Bond ETF Stock Performance

Fidelity Total Bond ETF stock opened at $44.68 on Friday. Fidelity Total Bond ETF has a fifty-two week low of $44.01 and a fifty-two week high of $47.30. The company has a market cap of $18.27 billion, a PE ratio of 9.09 and a beta of 0.27. The business’s 50-day simple moving average is $45.47 and its two-hundred day simple moving average is $45.50.

Fidelity Total Bond ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 28th were issued a dividend of $0.163 per share. The ex-dividend date of this dividend was Friday, March 28th.

Fidelity Total Bond ETF Company 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.