Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sets New 52-Week High – Here’s Why

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.72 and last traded at $37.63, with a volume of 52303 shares changing hands. The stock had previously closed at $37.49.

Fidelity Enhanced Mid Cap ETF Stock Performance

The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 20.20 and a beta of 1.13. The company has a 50-day moving average price of $36.27 and a 200-day moving average price of $35.76.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Several institutional investors and hedge funds have recently made changes to their positions in FMDE. Royal Bank of Canada raised its stake in Fidelity Enhanced Mid Cap ETF by 777.6% during the 1st quarter. Royal Bank of Canada now owns 59,442 shares of the company’s stock worth $1,863,000 after buying an additional 52,669 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock worth $79,741,000 after purchasing an additional 2,524,924 shares during the period. Richard P Slaughter Associates Inc lifted its holdings in shares of Fidelity Enhanced Mid Cap ETF by 15.9% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 1,331,843 shares of the company’s stock valued at $45,835,000 after purchasing an additional 182,558 shares in the last quarter. Fermata Advisors LLC acquired a new position in shares of Fidelity Enhanced Mid Cap ETF in the 2nd quarter valued at approximately $365,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Fidelity Enhanced Mid Cap ETF by 43.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,561 shares of the company’s stock valued at $508,000 after purchasing an additional 4,422 shares during the period.

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.