Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Growth in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 9,540 shares, an increase of 77.3% from the February 26th total of 5,381 shares. Based on an average daily volume of 25,756 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

Fidelity Dividend ETF for Rising Rates Stock Performance

Fidelity Dividend ETF for Rising Rates stock opened at $57.35 on Friday. The firm has a market cap of $625.12 million, a price-to-earnings ratio of 17.77 and a beta of 0.91. Fidelity Dividend ETF for Rising Rates has a 1 year low of $43.06 and a 1 year high of $63.34. The firm’s 50 day moving average price is $61.21 and its two-hundred day moving average price is $60.37.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, March 20th.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SHP Wealth Management acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $61,000. Monetary Solutions Ltd acquired a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $73,000. Birchwood Financial Partners Inc. acquired a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $26,000. High Falls Advisors Inc increased its position in shares of Fidelity Dividend ETF for Rising Rates by 37.9% in the fourth quarter. High Falls Advisors Inc now owns 6,077 shares of the company’s stock worth $371,000 after acquiring an additional 1,669 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth approximately $18,951,000.

About Fidelity Dividend ETF for Rising Rates

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund that is based on the Fidelity Dividend for Rising Rates index. The fund tracks an index of large- and mid-cap companies in developed nations that exhibit strong dividend characteristics and have a positive correlation to increasing 10-year US Treasury yields. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.