Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Hits New 52-Week High – Time to Buy?

Shares of Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $75.95 and last traded at $76.1580, with a volume of 4,677 shares. The stock had previously closed at $74.66.

Fidelity Low Volatility Factor ETF Trading Up 2.4%

The company has a 50 day simple moving average of $72.60 and a 200-day simple moving average of $69.72. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 24.34 and a beta of 0.74.

Institutional Investors Weigh In On Fidelity Low Volatility Factor ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in Fidelity Low Volatility Factor ETF by 4.3% during the second quarter. IFP Advisors Inc now owns 3,434 shares of the company’s stock worth $235,000 after purchasing an additional 143 shares during the last quarter. Fifth Third Bancorp grew its position in Fidelity Low Volatility Factor ETF by 149.2% in the first quarter. Fifth Third Bancorp now owns 658 shares of the company’s stock valued at $42,000 after purchasing an additional 394 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Fidelity Low Volatility Factor ETF by 2.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,281 shares of the company’s stock valued at $1,044,000 after purchasing an additional 402 shares in the last quarter. Roxbury Financial LLC increased its stake in Fidelity Low Volatility Factor ETF by 3.3% in the 2nd quarter. Roxbury Financial LLC now owns 15,230 shares of the company’s stock valued at $1,041,000 after buying an additional 493 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Fidelity Low Volatility Factor ETF by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 6,861 shares of the company’s stock valued at $443,000 after buying an additional 564 shares during the last quarter.

Fidelity Low Volatility Factor ETF Company Profile

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.