Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sees Strong Trading Volume – What’s Next?

Shares of Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) saw unusually-high trading volume on Tuesday . Approximately 2,448,161 shares traded hands during trading, an increase of 190% from the previous session’s volume of 843,021 shares.The stock last traded at $30.37 and had previously closed at $30.76.

Fidelity Enhanced Small Cap ETF Stock Performance

The stock’s 50 day simple moving average is $32.98 and its 200 day simple moving average is $32.89. The firm has a market cap of $590.68 million, a PE ratio of 16.61 and a beta of 1.22.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Several institutional investors and hedge funds have recently bought and sold shares of FESM. FMR LLC raised its stake in shares of Fidelity Enhanced Small Cap ETF by 344.3% during the third quarter. FMR LLC now owns 8,310,807 shares of the company’s stock valued at $267,400,000 after acquiring an additional 6,440,359 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Fidelity Enhanced Small Cap ETF by 100.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,667,449 shares of the company’s stock valued at $53,942,000 after purchasing an additional 833,533 shares during the period. LPL Financial LLC raised its position in Fidelity Enhanced Small Cap ETF by 923.7% during the 4th quarter. LPL Financial LLC now owns 505,394 shares of the company’s stock valued at $16,349,000 after purchasing an additional 456,026 shares during the last quarter. Summit Investment Advisory Services LLC purchased a new stake in Fidelity Enhanced Small Cap ETF in the 4th quarter worth approximately $9,215,000. Finally, Eaton Financial Holdings Company LLC bought a new stake in shares of Fidelity Enhanced Small Cap ETF in the 4th quarter worth approximately $7,191,000.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.