Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 12-Month High – Time to Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $66.30 and last traded at $66.19, with a volume of 1339 shares trading hands. The stock had previously closed at $65.74.

Fidelity Dividend ETF for Rising Rates Price Performance

The firm has a fifty day moving average price of $62.02 and a two-hundred day moving average price of $61.50. The stock has a market capitalization of $721.58 million, a PE ratio of 17.77 and a beta of 0.87.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Fidelity Dividend ETF for Rising Rates by 17.7% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $140,000 after acquiring an additional 360 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $25,000. Birchwood Financial Partners Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $26,000. Stonebridge Financial Planning Group LLC boosted its holdings in Fidelity Dividend ETF for Rising Rates by 2.6% in the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 18,445 shares of the company’s stock worth $1,081,000 after buying an additional 475 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $49,000.

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.