Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Stock Price Down 0.5% – Here’s What Happened

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s stock price was down 0.5% during mid-day trading on Thursday . The stock traded as low as $65.02 and last traded at $65.27. Approximately 16,801 shares were traded during mid-day trading, a decline of 11% from the average session volume of 18,910 shares. The stock had previously closed at $65.62.

Fidelity Dividend ETF for Rising Rates Trading Down 0.5%

The company has a market cap of $711.44 million, a PE ratio of 17.77 and a beta of 0.88. The stock has a 50 day moving average price of $64.38 and a 200 day moving average price of $62.24.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDRR. O Shaughnessy Asset Management LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $25,000. Birchwood Financial Partners Inc. purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $26,000. Flagship Harbor Advisors LLC purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $49,000. Fifth Third Bancorp bought a new stake in Fidelity Dividend ETF for Rising Rates during the first quarter worth about $53,000. Finally, MWA Asset Management purchased a new stake in Fidelity Dividend ETF for Rising Rates in the first quarter worth about $54,000.

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.