Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Reaches New 52-Week High – Should You Buy?

Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $73.62 and last traded at $73.57, with a volume of 12660 shares trading hands. The stock had previously closed at $73.45.

Fidelity Low Volatility Factor ETF Stock Up 0.1%

The stock has a market capitalization of $1.46 billion, a P/E ratio of 24.34 and a beta of 0.76. The firm’s 50-day simple moving average is $69.90 and its 200 day simple moving average is $68.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FDLO. Allworth Financial LP lifted its position in shares of Fidelity Low Volatility Factor ETF by 460.8% during the 3rd quarter. Allworth Financial LP now owns 415 shares of the company’s stock valued at $27,000 after acquiring an additional 341 shares during the last quarter. Legacy Wealth Managment LLC ID acquired a new stake in shares of Fidelity Low Volatility Factor ETF during the fourth quarter worth $31,000. Ankerstar Wealth LLC acquired a new stake in shares of Fidelity Low Volatility Factor ETF during the fourth quarter worth $32,000. CoreCap Advisors LLC acquired a new stake in shares of Fidelity Low Volatility Factor ETF during the second quarter worth $40,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Fidelity Low Volatility Factor ETF by 149.2% during the first quarter. Fifth Third Bancorp now owns 658 shares of the company’s stock valued at $42,000 after purchasing an additional 394 shares during the last quarter.

About Fidelity Low Volatility Factor ETF

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.