Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 1-Year High – Should You Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high on Thursday . The stock traded as high as $70.15 and last traded at $70.02, with a volume of 1045 shares changing hands. The stock had previously closed at $69.42.

Fidelity Dividend ETF for Rising Rates Price Performance

The company has a market capitalization of $764.92 million, a PE ratio of 17.77 and a beta of 0.88. The business’s 50 day simple moving average is $66.68 and its 200 day simple moving average is $63.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 17.7% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $140,000 after buying an additional 360 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $25,000. Birchwood Financial Partners Inc. purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $26,000. Flagship Harbor Advisors LLC purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $49,000. Finally, Fifth Third Bancorp purchased a new position in Fidelity Dividend ETF for Rising Rates during the 1st quarter valued at about $53,000.

About Fidelity Dividend ETF for Rising Rates

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. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.