Fidelity Value Factor ETF (NYSEARCA:FVAL) Hits New 1-Year High – Time to Buy?

Shares of Fidelity Value Factor ETF (NYSEARCA:FVAL) hit a new 52-week high on Thursday . The company traded as high as $79.50 and last traded at $79.34, with a volume of 38972 shares changing hands. The stock had previously closed at $79.04.

Fidelity Value Factor ETF Stock Performance

The stock has a fifty day simple moving average of $73.92 and a two-hundred day simple moving average of $72.91. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 19.06 and a beta of 0.95.

Institutional Investors Weigh In On Fidelity Value Factor ETF

Several hedge funds have recently modified their holdings of FVAL. Royal Bank of Canada boosted its holdings in shares of Fidelity Value Factor ETF by 0.5% during the 1st quarter. Royal Bank of Canada now owns 165,041 shares of the company’s stock valued at $9,835,000 after acquiring an additional 843 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Fidelity Value Factor ETF during the 1st quarter worth about $1,656,000. NewEdge Advisors LLC lifted its holdings in Fidelity Value Factor ETF by 6.9% during the 2nd quarter. NewEdge Advisors LLC now owns 7,775 shares of the company’s stock worth $497,000 after buying an additional 501 shares during the period. Quantinno Capital Management LP acquired a new position in Fidelity Value Factor ETF during the 2nd quarter worth about $340,000. Finally, Darwin Wealth Management LLC acquired a new position in Fidelity Value Factor ETF during the 2nd quarter worth about $1,074,000.

Fidelity Value Factor ETF Company Profile

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.