Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 52-Week High – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) shares hit a new 52-week high on Tuesday . The stock traded as high as $76.46 and last traded at $76.46, with a volume of 23789 shares. The stock had previously closed at $76.10.

Fidelity Quality Factor ETF Stock Performance

The stock has a market capitalization of $1.17 billion, a P/E ratio of 25.46 and a beta of 0.97. The firm’s 50-day simple moving average is $75.08 and its 200 day simple moving average is $72.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FQAL. Envestnet Asset Management Inc. raised its stake in Fidelity Quality Factor ETF by 5.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,156,911 shares of the company’s stock worth $86,444,000 after acquiring an additional 55,097 shares in the last quarter. Raymond James Financial Inc. raised its position in Fidelity Quality Factor ETF by 11,469.7% in the third quarter. Raymond James Financial Inc. now owns 55,303 shares of the company’s stock valued at $4,132,000 after purchasing an additional 54,825 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Fidelity Quality Factor ETF by 29.2% during the second quarter. JPMorgan Chase & Co. now owns 228,984 shares of the company’s stock worth $15,944,000 after purchasing an additional 51,744 shares during the last quarter. Keystone Wealth Services LLC increased its stake in shares of Fidelity Quality Factor ETF by 804.7% in the third quarter. Keystone Wealth Services LLC now owns 50,652 shares of the company’s stock valued at $3,785,000 after buying an additional 45,053 shares during the period. Finally, LVZ Inc. bought a new position in Fidelity Quality Factor ETF in the 2nd quarter valued at approximately $1,807,000.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.