Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 12-Month High – Still a Buy?

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $62.10 and last traded at $62.09, with a volume of 152575 shares changing hands. The stock had previously closed at $61.77.

Fidelity High Dividend ETF Trading Up 0.5%

The firm has a market cap of $10.02 billion, a PE ratio of 17.18 and a beta of 0.86. The company has a 50-day simple moving average of $60.49 and a 200 day simple moving average of $58.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDVV. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Fidelity High Dividend ETF during the 4th quarter worth about $25,000. Monetary Solutions Ltd purchased a new position in shares of Fidelity High Dividend ETF in the 4th quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in Fidelity High Dividend ETF in the 2nd quarter worth about $27,000. Optima Capital LLC acquired a new position in Fidelity High Dividend ETF in the 4th quarter worth about $33,000. Finally, Global Assets Advisory LLC purchased a new position in Fidelity High Dividend ETF during the first quarter worth approximately $36,000.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.