Independent Advisor Alliance Makes New $1.44 Million Investment in Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD)

Independent Advisor Alliance bought a new position in Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 35,042 shares of the company’s stock, valued at approximately $1,443,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Fidelity Small-Mid Multifactor ETF in the 4th quarter worth approximately $14,780,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Fidelity Small-Mid Multifactor ETF by 105.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,968 shares of the company’s stock worth $81,000 after acquiring an additional 1,010 shares during the period. Noble Wealth Management PBC bought a new position in shares of Fidelity Small-Mid Multifactor ETF in the fourth quarter worth $54,000. Provident Wealth Management LLC purchased a new position in shares of Fidelity Small-Mid Multifactor ETF in the fourth quarter valued at $6,334,000. Finally, Parcion Private Wealth LLC raised its stake in shares of Fidelity Small-Mid Multifactor ETF by 4.7% during the 4th quarter. Parcion Private Wealth LLC now owns 491,316 shares of the company’s stock valued at $20,227,000 after purchasing an additional 22,250 shares during the period.

Fidelity Small-Mid Multifactor ETF Stock Performance

Shares of FSMD opened at $38.77 on Friday. Fidelity Small-Mid Multifactor ETF has a 52-week low of $35.99 and a 52-week high of $45.16. The stock’s 50-day simple moving average is $41.49 and its 200 day simple moving average is $41.76. The stock has a market capitalization of $790.91 million, a price-to-earnings ratio of 17.43 and a beta of 1.08.

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.