Fidelity Value Factor ETF (NYSEARCA:FVAL) Shares Up 1.1% – Here’s What Happened

Fidelity Value Factor ETF (NYSEARCA:FVAL) shares shot up 1.1% during mid-day trading on Friday . The company traded as high as $62.18 and last traded at $62.10. 59,212 shares traded hands during trading, a decline of 9% from the average session volume of 64,956 shares. The stock had previously closed at $61.44.

Fidelity Value Factor ETF Stock Performance

The company’s 50 day moving average price is $62.79 and its 200-day moving average price is $60.29. The stock has a market cap of $866.30 million, a P/E ratio of 15.28 and a beta of 0.93.

Hedge Funds Weigh In On Fidelity Value Factor ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its holdings in Fidelity Value Factor ETF by 15.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,104,243 shares of the company’s stock worth $63,587,000 after buying an additional 149,954 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fidelity Value Factor ETF by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 915,310 shares of the company’s stock worth $55,468,000 after purchasing an additional 65,719 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Fidelity Value Factor ETF by 25.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 897,295 shares of the company’s stock worth $54,376,000 after purchasing an additional 182,423 shares during the period. FMR LLC lifted its stake in Fidelity Value Factor ETF by 3.2% in the third quarter. FMR LLC now owns 846,651 shares of the company’s stock valued at $51,307,000 after purchasing an additional 26,275 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Fidelity Value Factor ETF by 3.5% during the third quarter. Thrivent Financial for Lutherans now owns 575,998 shares of the company’s stock valued at $34,905,000 after purchasing an additional 19,306 shares during the period.

About Fidelity Value Factor ETF

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.