Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 52-Week High – Still a Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $38.06 and last traded at $37.8310, with a volume of 133070 shares. The stock had previously closed at $37.63.

Fidelity Enhanced Mid Cap ETF Stock Performance

The company has a market capitalization of $5.19 billion, a PE ratio of 20.20 and a beta of 1.13. The firm’s 50-day simple moving average is $37.13 and its 200 day simple moving average is $36.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC purchased a new stake in shares of Fidelity Enhanced Mid Cap ETF during the 2nd quarter worth approximately $31,000. AE Wealth Management LLC increased its position in Fidelity Enhanced Mid Cap ETF by 632.9% during the 3rd quarter. AE Wealth Management LLC now owns 1,026 shares of the company’s stock worth $37,000 after purchasing an additional 886 shares in the last quarter. Quattro Advisors LLC acquired a new position in Fidelity Enhanced Mid Cap ETF in the 4th quarter valued at about $43,000. Holos Integrated Wealth LLC purchased a new position in Fidelity Enhanced Mid Cap ETF in the 2nd quarter valued at about $42,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Fidelity Enhanced Mid Cap ETF during the 2nd quarter worth about $44,000.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.