Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Stock Price Down 0.5% – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) fell 0.5% on Thursday . The stock traded as low as $65.02 and last traded at $65.27. 16,801 shares were traded during mid-day trading, a decline of 11% from the average session volume of 18,910 shares. The stock had previously closed at $65.62.

Fidelity Dividend ETF for Rising Rates Price Performance

The stock has a market capitalization of $711.44 million, a PE ratio of 17.77 and a beta of 0.88. The company has a 50 day moving average price of $64.38 and a 200-day moving average price of $62.24.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several large investors have recently added to or reduced their stakes in FDRR. Ameritas Advisory Services LLC lifted its position 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 period. EP Wealth Advisors LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at about $18,951,000. LPL Financial LLC raised its stake in Fidelity Dividend ETF for Rising Rates by 30.1% in the fourth quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock worth $21,193,000 after buying an additional 80,360 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Fidelity Dividend ETF for Rising Rates by 456.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock worth $2,953,000 after buying an additional 39,697 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Fidelity Dividend ETF for Rising Rates by 57.3% in the third quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock worth $5,227,000 after buying an additional 32,491 shares in the last quarter.

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.