Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 52-Week High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $60.12 and last traded at $60.10, with a volume of 484306 shares. The stock had previously closed at $59.41.

Fidelity High Dividend ETF Stock Up 0.9%

The firm has a market capitalization of $9.32 billion, a P/E ratio of 17.18 and a beta of 0.86. The company has a fifty day simple moving average of $57.25 and a 200 day simple moving average of $57.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FDVV. Smithfield Trust Co increased its holdings in Fidelity High Dividend ETF by 2.4% during the fourth quarter. Smithfield Trust Co now owns 7,600 shares of the company’s stock valued at $431,000 after buying an additional 175 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Fidelity High Dividend ETF by 4.5% during the 4th quarter. Meridian Wealth Management LLC now owns 4,164 shares of the company’s stock valued at $236,000 after acquiring an additional 179 shares during the period. Harbor Asset Planning Inc. increased its holdings in Fidelity High Dividend ETF by 0.8% in the 1st quarter. Harbor Asset Planning Inc. now owns 22,824 shares of the company’s stock worth $1,261,000 after acquiring an additional 182 shares in the last quarter. Melfa Wealth Management Inc. raised its stake in Fidelity High Dividend ETF by 1.1% during the 3rd quarter. Melfa Wealth Management Inc. now owns 19,141 shares of the company’s stock worth $1,066,000 after acquiring an additional 212 shares during the period. Finally, Archer Investment Corp lifted its holdings in Fidelity High Dividend ETF by 7.2% during the third quarter. Archer Investment Corp now owns 3,219 shares of the company’s stock valued at $179,000 after purchasing an additional 217 shares in the last quarter.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.