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

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $37.94 and last traded at $37.3910, with a volume of 63189 shares traded. The stock had previously closed at $37.67.

Fidelity Enhanced Mid Cap ETF Stock Up 1.4%

The firm has a market capitalization of $5.14 billion, a P/E ratio of 20.20 and a beta of 1.13. The firm has a 50 day moving average of $37.04 and a 200-day moving average of $36.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TrueWealth Advisors LLC acquired a new stake in Fidelity Enhanced Mid Cap ETF in the third quarter valued at about $3,843,000. Adamsbrown Wealth Consultants LLC acquired a new position in Fidelity Enhanced Mid Cap ETF during the third quarter worth about $18,243,000. Elevation Point Wealth Partners LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF in the second quarter worth about $548,000. Commonwealth Equity Services LLC boosted its stake in shares of Fidelity Enhanced Mid Cap ETF by 10.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,396,195 shares of the company’s stock valued at $50,472,000 after purchasing an additional 128,527 shares in the last quarter. Finally, Smithfield Trust Co grew its holdings in shares of Fidelity Enhanced Mid Cap ETF by 48.5% during the 2nd quarter. Smithfield Trust Co now owns 10,715 shares of the company’s stock valued at $368,000 after purchasing an additional 3,500 shares during the last quarter.

Fidelity Enhanced Mid Cap ETF Company Profile

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.