Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Significant Growth in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 45,726 shares, an increase of 25.3% from the March 31st total of 36,504 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 24,205 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently made changes to their positions in FDRR. Ameritas Advisory Services LLC grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 70,725.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after purchasing an additional 741,204 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter worth approximately $18,951,000. LPL Financial LLC grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 30.1% in the 4th quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock worth $21,193,000 after purchasing an additional 80,360 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 456.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock worth $2,953,000 after purchasing an additional 39,697 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 57.3% in the 3rd quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock worth $5,227,000 after purchasing an additional 32,491 shares during the last quarter.

Fidelity Dividend ETF for Rising Rates Stock Up 0.1%

Fidelity Dividend ETF for Rising Rates stock traded up $0.09 during trading hours on Friday, hitting $63.42. 8,919 shares of the company traded hands, compared to its average volume of 20,066. The firm has a market cap of $691.28 million, a P/E ratio of 17.77 and a beta of 0.87. The firm’s 50-day simple moving average is $60.87 and its two-hundred day simple moving average is $60.84. Fidelity Dividend ETF for Rising Rates has a 1-year low of $48.71 and a 1-year high of $63.77.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. This is an increase from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33.

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.