Fidelity Enhanced Large Cap Value ETF (NYSEARCA:FELV) Sets New 52-Week High – Here’s Why

Fidelity Enhanced Large Cap Value ETF (NYSEARCA:FELV) reached a new 52-week high on Monday . The company traded as high as $43.05 and last traded at $42.98, with a volume of 31613 shares changing hands. The stock had previously closed at $42.92.

Fidelity Enhanced Large Cap Value ETF Stock Performance

The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 18.67 and a beta of 0.76. The company has a fifty day simple moving average of $40.79 and a 200 day simple moving average of $38.12.

Hedge Funds Weigh In On Fidelity Enhanced Large Cap Value ETF

A number of hedge funds have recently made changes to their positions in the stock. LPL Financial LLC raised its stake in Fidelity Enhanced Large Cap Value ETF by 33.3% during the fourth quarter. LPL Financial LLC now owns 582,791 shares of the company’s stock worth $20,200,000 after buying an additional 145,721 shares during the last quarter. Pathfinder Wealth Consulting Inc. bought a new stake in Fidelity Enhanced Large Cap Value ETF during the fourth quarter valued at $3,841,000. Royal Bank of Canada boosted its position in Fidelity Enhanced Large Cap Value ETF by 114.4% during the fourth quarter. Royal Bank of Canada now owns 184,397 shares of the company’s stock valued at $6,392,000 after acquiring an additional 98,380 shares during the last quarter. Align Financial LLC acquired a new stake in Fidelity Enhanced Large Cap Value ETF during the 4th quarter worth about $2,424,000. Finally, Raymond James Financial Inc. grew its holdings in Fidelity Enhanced Large Cap Value ETF by 86.8% during the 2nd quarter. Raymond James Financial Inc. now owns 126,084 shares of the company’s stock worth $4,006,000 after acquiring an additional 58,582 shares during the period.

About Fidelity Enhanced Large Cap Value ETF

The Fidelity Enhanced Large Cap Value ETF (FELV) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed, investing in large-cap value stocks belonging to a broad US equity value index. The fund aims for growth of capital FELV was launched on Apr 19, 2007 and is issued by Fidelity.