Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Strong Trading Volume – Time to Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares saw strong trading volume on Thursday. Approximately 78,251 shares changed hands during mid-day trading, an increase of 310% from the average daily volume of 19,075 shares. The stock last traded at $69.3280 and had previously closed at $69.34.

Fidelity Dividend ETF for Rising Rates Stock Down 0.2%

The firm has a 50 day moving average of $69.29 and a 200-day moving average of $65.18. The firm has a market capitalization of $768.45 million, a P/E ratio of 17.77 and a beta of 0.88.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in Fidelity Dividend ETF for Rising Rates by 2.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,538 shares of the company’s stock worth $619,000 after purchasing an additional 228 shares during the period. Royal Bank of Canada grew its position in Fidelity Dividend ETF for Rising Rates by 17.7% during the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $140,000 after buying an additional 360 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 22.2% during the 3rd quarter. IFP Advisors Inc now owns 2,039 shares of the company’s stock valued at $139,000 after acquiring an additional 370 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 0.6% during the second quarter. NewEdge Advisors LLC now owns 88,964 shares of the company’s stock worth $5,772,000 after purchasing an additional 533 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth about $53,000.

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.