Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 1-Year High – Still a Buy?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) hit a new 52-week high on Thursday . The company traded as high as $78.39 and last traded at $78.36, with a volume of 29187 shares trading hands. The stock had previously closed at $77.58.

Fidelity Quality Factor ETF Stock Down 0.1%

The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95. The business’s fifty day moving average is $75.40 and its two-hundred day moving average is $75.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FQAL. Elyxium Wealth LLC acquired a new position in shares of Fidelity Quality Factor ETF in the fourth quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Fidelity Quality Factor ETF in the fourth quarter valued at approximately $33,000. Raymond James Financial Inc. acquired a new position in shares of Fidelity Quality Factor ETF in the second quarter valued at approximately $33,000. Cornerstone Planning Group LLC acquired a new position in shares of Fidelity Quality Factor ETF in the third quarter valued at approximately $38,000. Finally, Spire Wealth Management grew its holdings in shares of Fidelity Quality Factor ETF by 22.4% in the third quarter. Spire Wealth Management now owns 808 shares of the company’s stock valued at $60,000 after purchasing an additional 148 shares in the last quarter.

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.