Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Short Interest Up 25.3% in April

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 45,726 shares, an increase of 25.3% from the March 31st total of 36,504 shares. Based on an average trading volume of 24,205 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC grew its stake in Fidelity Dividend ETF for Rising Rates by 70,725.6% in the fourth quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after purchasing an additional 741,204 shares in the last quarter. LPL Financial LLC grew its stake 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 worth $21,193,000 after purchasing an additional 80,360 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $18,951,000. Bank of America Corp DE grew its stake in Fidelity Dividend ETF for Rising Rates by 1.2% in the third quarter. Bank of America Corp DE now owns 231,306 shares of the company’s stock worth $13,559,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Fidelity Dividend ETF for Rising Rates by 1.3% in the third quarter. Private Advisor Group LLC now owns 179,052 shares of the company’s stock worth $10,496,000 after purchasing an additional 2,263 shares in the last quarter.

Fidelity Dividend ETF for Rising Rates Stock Performance

Shares of NYSEARCA FDRR traded up $0.09 during midday trading on Friday, reaching $63.42. 8,919 shares of the company’s stock were exchanged, compared to its average volume of 20,066. Fidelity Dividend ETF for Rising Rates has a 52-week low of $48.71 and a 52-week high of $63.77. The stock has a market capitalization of $691.28 million, a PE ratio of 17.77 and a beta of 0.87. The business’s fifty day moving average price is $60.87 and its two-hundred day moving average price is $60.84.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, March 20th.

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.