Midwest Financial Network LLC Raises Stock Position in Fidelity Dividend ETF for Rising Rates $FDRR

Midwest Financial Network LLC increased its position in shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 60.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,374 shares of the company’s stock after acquiring an additional 7,686 shares during the quarter. Midwest Financial Network LLC owned about 0.19% of Fidelity Dividend ETF for Rising Rates worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at approximately $25,000. Birchwood Financial Partners Inc. acquired a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth $49,000. Fifth Third Bancorp purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 1st quarter valued at $53,000. Finally, MWA Asset Management purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 1st quarter valued at $54,000.

Fidelity Dividend ETF for Rising Rates Price Performance

Fidelity Dividend ETF for Rising Rates stock opened at $69.73 on Thursday. The stock has a market capitalization of $760.06 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 1-year low of $55.40 and a 1-year high of $70.15. The business has a fifty day moving average price of $66.42 and a 200-day moving average price of $63.48.

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.