Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Reaches New 52-Week High – Time to Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $44.15 and last traded at $44.14, with a volume of 105082 shares trading hands. The stock had previously closed at $43.84.

Fidelity Enhanced Small Cap ETF Price Performance

The company has a market capitalization of $4.92 billion, a PE ratio of 16.78 and a beta of 1.37. The company’s 50 day simple moving average is $39.75 and its 200 day simple moving average is $38.88.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Several hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its position in shares of Fidelity Enhanced Small Cap ETF by 66.6% during the fourth quarter. LPL Financial LLC now owns 4,286,386 shares of the company’s stock worth $161,940,000 after acquiring an additional 1,713,064 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity Enhanced Small Cap ETF by 30.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,230,962 shares of the company’s stock worth $122,066,000 after acquiring an additional 749,061 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Fidelity Enhanced Small Cap ETF during the first quarter worth approximately $105,807,000. Commonwealth Equity Services LLC grew its position in shares of Fidelity Enhanced Small Cap ETF by 39.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,225,336 shares of the company’s stock worth $84,073,000 after acquiring an additional 624,608 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Fidelity Enhanced Small Cap ETF by 39,683.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,845,939 shares of the company’s stock worth $69,740,000 after acquiring an additional 1,841,299 shares during the last quarter.

Fidelity Enhanced Small Cap ETF Company Profile

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.