Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 1-Year High – Time to Buy?

Shares of Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) hit a new 52-week high during trading on Monday . The stock traded as high as $41.02 and last traded at $40.94, with a volume of 51702 shares. The stock had previously closed at $40.57.

Fidelity Enhanced Mid Cap ETF Stock Performance

The firm has a market cap of $7.68 billion, a P/E ratio of 20.20 and a beta of 0.91. The firm’s fifty day simple moving average is $40.09 and its 200 day simple moving average is $38.33.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Fidelity Enhanced Mid Cap ETF by 170.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,829,902 shares of the company’s stock worth $685,032,000 after acquiring an additional 11,869,760 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock valued at $79,741,000 after acquiring an additional 2,524,924 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Fidelity Enhanced Mid Cap ETF in the fourth quarter valued at $84,551,000. Ameriprise Financial Inc. grew its holdings in shares of Fidelity Enhanced Mid Cap ETF by 8,528.5% in the third quarter. Ameriprise Financial Inc. now owns 2,022,442 shares of the company’s stock valued at $73,118,000 after purchasing an additional 1,999,003 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Fidelity Enhanced Mid Cap ETF by 90.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,432,732 shares of the company’s stock valued at $124,883,000 after purchasing an additional 1,627,937 shares in the last quarter.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.