Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 52-Week High – Should You Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price hit a new 52-week high on Wednesday . The company traded as high as $60.95 and last traded at $60.85, with a volume of 9016 shares traded. The stock had previously closed at $60.30.

Fidelity Dividend ETF for Rising Rates Trading Up 0.9%

The stock’s 50-day moving average price is $59.07 and its 200-day moving average price is $56.20. The company has a market cap of $645.11 million, a P/E ratio of 17.77 and a beta of 0.91.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Large investors have recently made changes to their positions in the business. KERR FINANCIAL PLANNING Corp purchased a new stake in Fidelity Dividend ETF for Rising Rates during the 3rd quarter valued at $110,000. Advisory Services Network LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the third quarter valued at approximately $79,000. Stonebridge Financial Planning Group LLC increased its position in shares of Fidelity Dividend ETF for Rising Rates by 2.6% in the third quarter. Stonebridge Financial Planning Group LLC now owns 18,445 shares of the company’s stock valued at $1,081,000 after buying an additional 475 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Fidelity Dividend ETF for Rising Rates by 57.3% in the 3rd quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock valued at $5,227,000 after purchasing an additional 32,491 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fidelity Dividend ETF for Rising Rates by 19.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 8,696 shares of the company’s stock valued at $510,000 after buying an additional 1,445 shares during the period.

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.