Fidelity Quality Factor ETF (NYSEARCA:FQAL) Reaches New 52-Week High – Should You Buy?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $77.70 and last traded at $77.66, with a volume of 1570 shares. The stock had previously closed at $77.04.

Fidelity Quality Factor ETF Stock Performance

The company’s 50 day moving average price is $75.15 and its 200-day moving average price is $75.34. The company has a market cap of $1.37 billion, a PE ratio of 25.46 and a beta of 0.97.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Large investors have recently modified their holdings of the stock. CRA Financial Services LLC purchased a new stake in shares of Fidelity Quality Factor ETF during the 4th quarter worth approximately $620,000. Savvy Advisors Inc. purchased a new stake in shares of Fidelity Quality Factor ETF during the 3rd quarter worth approximately $796,000. High Probability Advisors LLC increased its stake in shares of Fidelity Quality Factor ETF by 3.0% during the 3rd quarter. High Probability Advisors LLC now owns 303,348 shares of the company’s stock worth $22,666,000 after purchasing an additional 8,840 shares during the last quarter. Keystone Wealth Services LLC increased its stake in shares of Fidelity Quality Factor ETF by 804.7% during the 3rd quarter. Keystone Wealth Services LLC now owns 50,652 shares of the company’s stock worth $3,785,000 after purchasing an additional 45,053 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its stake in shares of Fidelity Quality Factor ETF by 318.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 26,853 shares of the company’s stock worth $2,046,000 after purchasing an additional 20,433 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.