Midwest Financial Network LLC Increases Stake in Fidelity Dividend ETF for Rising Rates $FDRR

Midwest Financial Network LLC increased its stake in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 60.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,374 shares of the company’s stock after purchasing an additional 7,686 shares during the period. Midwest Financial Network LLC’s holdings in Fidelity Dividend ETF for Rising Rates were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Fidelity Dividend ETF for Rising Rates by 17.7% during the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $140,000 after purchasing an additional 360 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth $25,000. Birchwood Financial Partners Inc. acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth $49,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the first quarter valued at $53,000.

Fidelity Dividend ETF for Rising Rates Price Performance

Shares of FDRR opened at $69.73 on Thursday. The company’s fifty day moving average price is $66.42 and its 200-day moving average price is $63.48. Fidelity Dividend ETF for Rising Rates has a 1-year low of $55.40 and a 1-year high of $70.15. The firm has a market capitalization of $760.06 million, a PE 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.