Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Decline in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 11,264 shares, a decline of 47.4% from the July 30th total of 21,422 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 16,102 shares, the short-interest ratio is currently 0.7 days.

Fidelity Dividend ETF for Rising Rates Price Performance

FDRR stock traded down $0.20 on Monday, reaching $69.41. 11,471 shares of the company were exchanged, compared to its average volume of 18,102. The firm has a market capitalization of $756.57 million, a PE ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 12 month low of $56.52 and a 12 month high of $70.28. The stock’s fifty day moving average price is $67.67 and its 200 day moving average price is $64.45.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds have recently made changes to their positions in FDRR. Ameritas Advisory Services LLC lifted its position in shares of Fidelity Dividend ETF for Rising Rates by 70,725.6% during the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after buying an additional 741,204 shares during the period. EP Wealth Advisors LLC bought a new stake in Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $18,951,000. LPL Financial LLC grew its stake in Fidelity Dividend ETF for Rising Rates by 30.1% during 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 456.5% during 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 shares of 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 valued at $5,227,000 after acquiring an additional 32,491 shares during 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.