Truist Financial Corp Increases Holdings in Fidelity Enhanced Mid Cap ETF

On October 17, 2024, it was reported that Truist Financial Corp enhanced its position in the Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) during the second quarter. This investment firm increased its stake by 12.6%, acquiring an additional 1,663 shares. By the end of the second quarter, Truist Financial Corp owned a total of 14,901 shares, which amounted to a value of approximately $439,000.

In addition to Truist, several other institutional investors have made significant moves in the Fidelity Enhanced Mid Cap ETF recently. For instance, Cetera Investment Advisers dramatically enlarged its holdings by 1,799.9% in the first quarter, bringing its total to 340,793 shares valued at approximately $10.4 million after a substantial purchase of 322,856 additional shares.

Another investor, Commonwealth Equity Services LLC, increased its stake in the second quarter by 64.0%, accumulating to 497,543 shares worth about $14.65 million after acquiring 194,249 shares in this period. Moreover, Traynor Capital Management Inc. raised its investment in the ETF by 397.4%, now owning 80,904 shares valued at approximately $2.38 million following the purchase of an extra 64,638 shares.

OmniStar Financial Group Inc. also entered the Fidelity Enhanced Mid Cap ETF market with a new investment valued at around $942,000 during the second quarter. Additionally, AdvisorNet Financial Inc. increased its position by 172.6%, holding 21,421 shares valued at $631,000 after acquiring an extra 13,564 shares.

Current Stock Performance

As of the latest report, the Fidelity Enhanced Mid Cap ETF's shares opened at $32.89. Over the past year, the ETF has reached a low of $24.82 and a high of $32.94. Its fifty-day moving average stood at $31.28, while the two-hundred day moving average was recorded at $30.20. The ETF boasts a market capitalization of $1.87 billion, a price-to-earnings (P/E) ratio of 19.53, and a beta of 0.93, reflecting its volatility in the market.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) operates as an exchange-traded fund primarily focusing on mid-cap equities. This actively managed fund invests mainly in U.S. mid-cap companies. Its stock selection process utilizes computer-assisted analysis, particularly selecting stocks within the Russell Midcap Index. FMDE was launched on December 20, 2007, and is managed by Fidelity.

Related Insights

• Analysis of superior alternatives to Fidelity Enhanced Mid Cap ETF
• Comparison between momentum investing and long-term investing approaches
• Evaluating Taiwan Semiconductor's stock before earnings
• Identifying two promising fintech stocks and one to avoid
• Examining Abbott's growth potential and dividends as a portfolio choice
• Insights into fintech stocks with favorable prospects in 2021
• Risks surrounding Citigroup amid growing industry troubles

For further insights into hedge fund activities regarding FMDE, individuals are encouraged to explore additional resources available for reviewing 13F filings and insider trades focused on Fidelity Enhanced Mid Cap ETF.

Truist, Fidelity, Investment