Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Strong Trading Volume – Here’s What Happened

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw an uptick in trading volume on Thursday. Approximately 78,251 shares were traded during trading, an increase of 310% from the average daily volume of 19,075 shares. The stock last traded at $69.3280 and had previously closed at $69.34.

Fidelity Dividend ETF for Rising Rates Trading Down 1.2%

The firm has a 50-day moving average of $69.27 and a 200-day moving average of $65.25. The stock has a market capitalization of $759.46 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC boosted its position in Fidelity Dividend ETF for Rising Rates by 52.3% during the second quarter. Ameritas Advisory Services LLC now owns 1,092,623 shares of the company’s stock worth $70,889,000 after purchasing an additional 375,226 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Fidelity Dividend ETF for Rising Rates by 1.8% during the first quarter. Private Advisor Group LLC now owns 169,275 shares of the company’s stock worth $9,954,000 after acquiring an additional 2,984 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Fidelity Dividend ETF for Rising Rates by 25.3% in the second quarter. Envestnet Asset Management Inc. now owns 130,209 shares of the company’s stock valued at $8,448,000 after buying an additional 26,281 shares during the last quarter. Geneva Partners LLC raised its stake in Fidelity Dividend ETF for Rising Rates by 6.6% during the third quarter. Geneva Partners LLC now owns 88,371 shares of the company’s stock worth $6,026,000 after acquiring an additional 5,465 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of 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 valued at $5,772,000 after acquiring an additional 533 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.