Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Short Interest Down 35.6% in August

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 7,250 shares, a decrease of 35.6% from the August 15th total of 11,264 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 14,591 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently added to or reduced their stakes in FDRR. Ameritas Advisory Services LLC increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 52.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,092,623 shares of the company’s stock valued at $70,889,000 after purchasing an additional 375,226 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 1.8% in the first quarter. Private Advisor Group LLC now owns 169,275 shares of the company’s stock valued at $9,954,000 after purchasing an additional 2,984 shares during the last quarter. NewEdge Advisors LLC raised its stake in Fidelity Dividend ETF for Rising Rates by 0.6% during the second quarter. NewEdge Advisors LLC now owns 88,964 shares of the company’s stock worth $5,772,000 after purchasing an additional 533 shares during the period. Cetera Investment Advisers boosted its holdings in Fidelity Dividend ETF for Rising Rates by 23.9% in the 1st quarter. Cetera Investment Advisers now owns 76,802 shares of the company’s stock valued at $4,516,000 after purchasing an additional 14,805 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 32.0% in the 1st quarter. Kestra Advisory Services LLC now owns 66,941 shares of the company’s stock valued at $3,936,000 after buying an additional 16,217 shares during the period.

Fidelity Dividend ETF for Rising Rates Stock Performance

NYSEARCA FDRR traded down $0.80 during trading hours on Friday, reaching $69.22. The stock had a trading volume of 14,730 shares, compared to its average volume of 18,000. Fidelity Dividend ETF for Rising Rates has a 52-week low of $57.18 and a 52-week high of $70.70. The stock has a fifty day moving average of $68.79 and a 200 day moving average of $65.14. The stock has a market cap of $754.45 million, a P/E ratio of 17.77 and a beta of 0.88.

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.