Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 52-Week High – What’s Next?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $76.77 and last traded at $76.5280, with a volume of 12015 shares trading hands. The stock had previously closed at $76.69.

Fidelity Quality Factor ETF Stock Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of 25.46 and a beta of 0.97. The company’s fifty day simple moving average is $75.26 and its 200-day simple moving average is $73.13.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Fidelity Quality Factor ETF in the second quarter worth approximately $33,000. Cornerstone Planning Group LLC bought a new stake in Fidelity Quality Factor ETF during the 3rd quarter valued at $38,000. Spire Wealth Management increased its holdings in shares of Fidelity Quality Factor ETF by 22.4% in the 3rd quarter. Spire Wealth Management now owns 808 shares of the company’s stock valued at $60,000 after acquiring an additional 148 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Fidelity Quality Factor ETF in the 2nd quarter worth $61,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Fidelity Quality Factor ETF by 23.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 168 shares during the last quarter.

About Fidelity Quality Factor ETF

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.