Fidelity Value Factor ETF (NYSEARCA:FVAL) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Fidelity Value Factor ETF (NYSEARCA:FVAL) saw unusually-strong trading volume on Wednesday . Approximately 216,775 shares changed hands during trading, an increase of 226% from the previous session’s volume of 66,537 shares.The stock last traded at $63.80 and had previously closed at $63.95.

Fidelity Value Factor ETF Price Performance

The stock has a market capitalization of $890.99 million, a P/E ratio of 15.28 and a beta of 0.93. The company’s 50-day simple moving average is $61.55 and its 200-day simple moving average is $59.11.

Hedge Funds Weigh In On Fidelity Value Factor ETF

Several institutional investors and hedge funds have recently modified their holdings of FVAL. Cullen Frost Bankers Inc. acquired a new stake in Fidelity Value Factor ETF during the second quarter worth about $32,000. Comerica Bank lifted its holdings in shares of Fidelity Value Factor ETF by 33.7% in the first quarter. Comerica Bank now owns 2,182 shares of the company’s stock worth $125,000 after acquiring an additional 550 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fidelity Value Factor ETF by 8.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,336 shares of the company’s stock worth $192,000 after acquiring an additional 267 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of Fidelity Value Factor ETF in the third quarter worth about $214,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Fidelity Value Factor ETF by 16.7% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,105 shares of the company’s stock worth $236,000 after acquiring an additional 586 shares during the last quarter.

Fidelity Value Factor ETF Company Profile

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.