Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $70.57 and last traded at $70.6490, with a volume of 5448 shares changing hands. The stock had previously closed at $69.82.
Fidelity Dividend ETF for Rising Rates Stock Performance
The company has a market cap of $765.29 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. The company’s fifty day moving average is $68.09 and its two-hundred day moving average is $64.65.
Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 70,725.6% during the fourth quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after acquiring an additional 741,204 shares during the period. EP Wealth Advisors LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at approximately $18,951,000. LPL Financial LLC lifted its holdings in Fidelity Dividend ETF for Rising Rates by 30.1% in the fourth quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock valued at $21,193,000 after acquiring an additional 80,360 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Fidelity Dividend ETF for Rising Rates by 456.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock worth $2,953,000 after purchasing an additional 39,697 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Fidelity Dividend ETF for Rising Rates by 57.3% in the 3rd quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock worth $5,227,000 after purchasing an additional 32,491 shares in the last quarter.
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.
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