Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high on Monday . The company traded as high as $57.50 and last traded at $57.29, with a volume of 15682 shares traded. The stock had previously closed at $56.31.

Fidelity Dividend ETF for Rising Rates Stock Performance

The stock has a market capitalization of $607.43 million, a PE ratio of 17.77 and a beta of 0.95. The business has a 50 day moving average of $55.11 and a two-hundred day moving average of $52.07.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDRR. CX Institutional purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the first quarter worth about $29,000. Wells Fargo & Company MN raised its stake in shares of Fidelity Dividend ETF for Rising Rates by 570.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,167 shares of the company’s stock worth $60,000 after purchasing an additional 993 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the second quarter worth about $94,000. Dentgroup LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the second quarter worth about $232,000. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Fidelity Dividend ETF for Rising Rates by 16.6% in the first quarter. Creative Financial Designs Inc. ADV now owns 7,065 shares of the company’s stock worth $353,000 after purchasing an additional 1,007 shares during the last quarter.

Fidelity Dividend ETF for Rising Rates Company Profile

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund that is based on the Fidelity Dividend for Rising Rates index. The fund tracks an index of large- and mid-cap companies in developed nations that exhibit strong dividend characteristics and have a positive correlation to increasing 10-year US Treasury yields.