Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 1-Year High – Time to Buy?

Fidelity High Dividend ETF (NYSEARCA:FDVV) shares reached a new 52-week high on Tuesday . The stock traded as high as $58.55 and last traded at $58.4810, with a volume of 66278 shares traded. The stock had previously closed at $58.20.

Fidelity High Dividend ETF Stock Performance

The business has a 50 day moving average of $57.09 and a 200-day moving average of $55.84. The company has a market capitalization of $8.49 billion, a P/E ratio of 17.18 and a beta of 0.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. lifted its holdings in shares of Fidelity High Dividend ETF by 80.5% during the 2nd quarter. Assetmark Inc. now owns 473 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Fidelity High Dividend ETF in the 2nd quarter worth approximately $27,000. MB Levis & Associates LLC purchased a new stake in Fidelity High Dividend ETF in the second quarter worth approximately $28,000. Evermay Wealth Management LLC bought a new position in Fidelity High Dividend ETF during the second quarter valued at approximately $31,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Fidelity High Dividend ETF during the second quarter worth approximately $32,000.

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.