Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 12-Month High – Time to Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high during trading on Thursday . The stock traded as high as $66.30 and last traded at $66.19, with a volume of 1339 shares changing hands. The stock had previously closed at $65.74.

Fidelity Dividend ETF for Rising Rates Stock Performance

The stock has a market cap of $721.58 million, a PE ratio of 17.77 and a beta of 0.87. The company’s 50-day moving average price is $62.02 and its 200 day moving average price is $61.50.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC raised its position in Fidelity Dividend ETF for Rising Rates by 70,725.6% in the fourth quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock valued at $45,292,000 after purchasing an additional 741,204 shares during the period. EP Wealth Advisors LLC purchased a new stake in Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at approximately $18,951,000. LPL Financial LLC raised its position in Fidelity Dividend ETF for Rising Rates by 30.1% in the fourth quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock valued at $21,193,000 after purchasing an additional 80,360 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Fidelity Dividend ETF for Rising Rates by 456.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock valued at $2,953,000 after purchasing an additional 39,697 shares during the period. Finally, NewEdge Advisors LLC raised its position in Fidelity Dividend ETF for Rising Rates by 57.3% in the third quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock valued at $5,227,000 after purchasing an additional 32,491 shares during the period.

Fidelity Dividend ETF for Rising Rates Company Profile

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.