Sunbelt Securities Inc. Has $798,000 Stock Holdings in Fidelity Fundamental Large Cap Growth ETF (BATS:FGRO)

Sunbelt Securities Inc. has increased its stake in the Fidelity Fundamental Large Cap Growth ETF (FGRO) by 49.6% in the first quarter, according to the company’s recent filing with the Securities & Exchange Commission. The firm now owns 36,526 shares of the ETF, worth $798,000. Several other institutional investors and hedge funds have also made changes to their holdings of FGRO, showing a positive sentiment towards the ETF.

FGRO stock opened at $23.83 on Friday, with a market cap of $318.85 million and a P/E ratio of 36.74. The ETF has shown a strong performance, with a fifty-day moving average of $22.40 and a 200-day moving average of $21.08. This indicates a positive trend for the ETF’s price performance.

The Fidelity Growth Opportunities ETF (FGRO) is an actively-managed, non-transparent ETF that invests in growth stocks from both domestic and foreign issuers. Launched on Feb 2, 2021, the fund is based on the Russell 1000 Growth TR USD index and is managed by Fidelity. This makes FGRO an attractive option for investors looking to capitalize on growth opportunities in the market.

Overall, the increase in stake by Sunbelt Securities Inc. and other institutional investors, along with the positive price performance of FGRO, indicate a strong market sentiment towards the ETF. DailyBubble sees this as a positive sign for investors considering adding FGRO to their portfolio.