Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sees Unusually-High Trading Volume – Time to Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) saw strong trading volume on Wednesday . 1,916,843 shares traded hands during mid-day trading, an increase of 214% from the previous session’s volume of 610,441 shares.The stock last traded at $34.51 and had previously closed at $34.24.

Fidelity Enhanced Mid Cap ETF Price Performance

The firm has a market cap of $1.95 billion, a P/E ratio of 19.53 and a beta of 0.93. The company’s 50-day simple moving average is $33.95 and its 200 day simple moving average is $32.58.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of Fidelity Enhanced Mid Cap ETF by 12.6% in the second quarter. Truist Financial Corp now owns 14,901 shares of the company’s stock worth $439,000 after purchasing an additional 1,663 shares during the last quarter. Pathstone Holdings LLC raised its stake in shares of Fidelity Enhanced Mid Cap ETF by 3.7% during the third quarter. Pathstone Holdings LLC now owns 188,244 shares of the company’s stock valued at $6,054,000 after acquiring an additional 6,638 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Fidelity Enhanced Mid Cap ETF in the third quarter valued at approximately $215,000. JPMorgan Chase & Co. grew its stake in Fidelity Enhanced Mid Cap ETF by 20,732.0% in the third quarter. JPMorgan Chase & Co. now owns 209,570 shares of the company’s stock worth $6,740,000 after purchasing an additional 208,564 shares in the last quarter. Finally, Gimbal Financial purchased a new position in shares of Fidelity Enhanced Mid Cap ETF during the third quarter valued at $1,454,000.

Fidelity Enhanced Mid Cap ETF Company Profile

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.