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 on Monday . The company traded as high as $63.06 and last traded at $62.9550, with a volume of 18757 shares traded. The stock had previously closed at $61.78.

Fidelity Dividend ETF for Rising Rates Price Performance

The stock’s fifty day moving average price is $61.47 and its 200 day moving average price is $59.30. The stock has a market capitalization of $688.28 million, a P/E ratio of 17.77 and a beta of 0.91.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Fidelity Dividend ETF for Rising Rates by 2.7% during the second quarter. Creative Financial Designs Inc. ADV now owns 7,255 shares of the company’s stock valued at $393,000 after acquiring an additional 190 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Fidelity Dividend ETF for Rising Rates by 6.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 4,181 shares of the company’s stock worth $245,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Planning Group LLC raised its position in Fidelity Dividend ETF for Rising Rates by 1.9% during the 2nd quarter. Stonebridge Financial Planning Group LLC now owns 17,970 shares of the company’s stock valued at $974,000 after purchasing an additional 340 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 7.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 7,629 shares of the company’s stock worth $414,000 after buying an additional 497 shares during the period. Finally, CX Institutional grew its position in shares of Fidelity Dividend ETF for Rising Rates by 79.5% during the 3rd quarter. CX Institutional now owns 1,386 shares of the company’s stock worth $81,000 after buying an additional 614 shares in the last quarter.

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.