Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 12-Month High – Still a Buy?

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $56.34 and last traded at $56.28, with a volume of 62214 shares changing hands. The stock had previously closed at $55.86.

Fidelity High Dividend ETF Price Performance

The company has a market capitalization of $7.31 billion, a PE ratio of 17.18 and a beta of 1.01. The firm has a 50-day moving average of $55.37 and a 200 day moving average of $52.46.

Institutional Investors Weigh In On Fidelity High Dividend ETF

Several institutional investors have recently modified their holdings of FDVV. Perigon Wealth Management LLC boosted its position in shares of Fidelity High Dividend ETF by 7.5% during the first quarter. Perigon Wealth Management LLC now owns 24,008 shares of the company’s stock valued at $1,191,000 after buying an additional 1,685 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Fidelity High Dividend ETF by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 15,746 shares of the company’s stock worth $781,000 after acquiring an additional 857 shares during the period. Jaffetilchin Investment Partners LLC grew its holdings in shares of Fidelity High Dividend ETF by 3.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 6,309 shares of the company’s stock worth $313,000 after acquiring an additional 223 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Fidelity High Dividend ETF by 4.9% in the first quarter. Sunbelt Securities Inc. now owns 17,761 shares of the company’s stock worth $881,000 after acquiring an additional 828 shares during the period. Finally, Essex Financial Services Inc. boosted its position in Fidelity High Dividend ETF by 17.7% in the first quarter. Essex Financial Services Inc. now owns 76,105 shares of the company’s stock worth $3,775,000 after purchasing an additional 11,450 shares during 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.