Provident Wealth Management LLC Takes Position in Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD)

Provident Wealth Management LLC purchased a new position in Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) in the fourth quarter, Holdings Channel.com reports. The fund purchased 153,841 shares of the company’s stock, valued at approximately $6,334,000. Fidelity Small-Mid Multifactor ETF comprises 2.1% of Provident Wealth Management LLC’s portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSMD. Wilmington Savings Fund Society FSB bought a new position in Fidelity Small-Mid Multifactor ETF in the third quarter worth $29,000. Kestra Investment Management LLC bought a new position in Fidelity Small-Mid Multifactor ETF in the fourth quarter worth $53,000. Principal Securities Inc. raised its holdings in Fidelity Small-Mid Multifactor ETF by 88.7% in the fourth quarter. Principal Securities Inc. now owns 1,810 shares of the company’s stock worth $75,000 after purchasing an additional 851 shares in the last quarter. FMR LLC raised its holdings in Fidelity Small-Mid Multifactor ETF by 126.6% in the third quarter. FMR LLC now owns 1,842 shares of the company’s stock worth $76,000 after purchasing an additional 1,029 shares in the last quarter. Finally, Eastern Bank raised its holdings in Fidelity Small-Mid Multifactor ETF by 115.7% in the fourth quarter. Eastern Bank now owns 4,345 shares of the company’s stock worth $179,000 after purchasing an additional 2,331 shares in the last quarter.

Fidelity Small-Mid Multifactor ETF Trading Down 0.0 %

FSMD opened at $40.96 on Wednesday. The stock has a fifty day simple moving average of $41.98 and a two-hundred day simple moving average of $41.80. The company has a market cap of $344.06 million, a price-to-earnings ratio of 14.18 and a beta of 0.98. Fidelity Small-Mid Multifactor ETF has a 12-month low of $35.99 and a 12-month high of $45.16.

About Fidelity Small-Mid Multifactor ETF

The Fidelity Small-Mid Factor ETF (FSMD) is an exchange-traded fund that is based on the Fidelity Small-Mid Multifactor index. The fund tracks a multi-factored index of US companies. FSMD was launched on Feb 26, 2019 and is managed by Fidelity.