Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – Time to Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s stock price reached a new 52-week high on Friday . The stock traded as high as $63.49 and last traded at $63.3150, with a volume of 5350 shares trading hands. The stock had previously closed at $62.43.

Fidelity Dividend ETF for Rising Rates Stock Up 1.2%

The firm has a market capitalization of $688.99 million, a PE ratio of 17.77 and a beta of 0.88. The business’s fifty day moving average price is $60.78 and its 200 day moving average price is $60.55.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, March 20th.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SHP Wealth Management purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $61,000. Monetary Solutions Ltd purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $73,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $26,000. High Falls Advisors Inc grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 37.9% during the fourth quarter. High Falls Advisors Inc now owns 6,077 shares of the company’s stock worth $371,000 after buying an additional 1,669 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $18,951,000.

Fidelity Dividend ETF for Rising Rates Company Profile

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.