Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 52-Week High – Time to Buy?

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) reached a new 52-week high on Wednesday . The company traded as high as $57.04 and last traded at $57.0150, with a volume of 451245 shares changing hands. The stock had previously closed at $56.72.

Fidelity High Dividend ETF Stock Down 0.1%

The company has a market cap of $7.49 billion, a PE ratio of 17.18 and a beta of 0.92. The company has a 50-day moving average of $55.96 and a 200-day moving average of $54.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Fidelity High Dividend ETF by 80.2% in the first quarter. HighTower Advisors LLC now owns 40,894 shares of the company’s stock worth $2,028,000 after buying an additional 18,196 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Fidelity High Dividend ETF by 34.3% during the second quarter. Foundations Investment Advisors LLC now owns 23,916 shares of the company’s stock valued at $1,244,000 after buying an additional 6,102 shares during the period. Allworth Financial LP grew its position in Fidelity High Dividend ETF by 4.8% during the second quarter. Allworth Financial LP now owns 547,991 shares of the company’s stock worth $28,506,000 after buying an additional 25,216 shares in the last quarter. Advyzon Investment Management LLC bought a new position in Fidelity High Dividend ETF in the 2nd quarter worth about $344,000. Finally, Janney Montgomery Scott LLC raised its stake in Fidelity High Dividend ETF by 55.8% in the second quarter. Janney Montgomery Scott LLC now owns 53,594 shares of the company’s stock valued at $2,788,000 after purchasing an additional 19,196 shares in the last quarter.

Fidelity High Dividend ETF Company Profile

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.