Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 1-Year High – Still a Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $76.78 and last traded at $76.72, with a volume of 7177 shares changing hands. The stock had previously closed at $76.41.

Fidelity Quality Factor ETF Price Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of 25.46 and a beta of 0.97. The business’s 50-day moving average price is $75.33 and its two-hundred day moving average price is $73.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of Fidelity Quality Factor ETF by 4.4% during the first quarter. NewEdge Advisors LLC now owns 26,270 shares of the company’s stock worth $1,685,000 after purchasing an additional 1,101 shares during the period. Ascent Group LLC bought a new stake in Fidelity Quality Factor ETF during the 1st quarter worth approximately $248,000. Jane Street Group LLC increased its stake in Fidelity Quality Factor ETF by 5.9% during the 1st quarter. Jane Street Group LLC now owns 11,083 shares of the company’s stock worth $711,000 after purchasing an additional 621 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Fidelity Quality Factor ETF during the 2nd quarter worth approximately $259,000. Finally, High Probability Advisors LLC raised its holdings in Fidelity Quality Factor ETF by 4.9% during the 2nd quarter. High Probability Advisors LLC now owns 294,508 shares of the company’s stock worth $20,507,000 after buying an additional 13,782 shares during the period.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.