Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 1-Year High – Should You Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) shares reached a new 52-week high on Tuesday . The company traded as high as $79.70 and last traded at $79.34, with a volume of 36530 shares traded. The stock had previously closed at $79.36.

Fidelity Quality Factor ETF Stock Down 0.0%

The company has a market cap of $1.39 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95. The stock has a fifty day moving average price of $75.61 and a two-hundred day moving average price of $75.76.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fidelity Quality Factor ETF by 6,154.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after buying an additional 1,598,541 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Fidelity Quality Factor ETF by 5.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,156,911 shares of the company’s stock valued at $86,444,000 after purchasing an additional 55,097 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Fidelity Quality Factor ETF by 33.6% in the first quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock valued at $65,326,000 after purchasing an additional 226,425 shares in the last quarter. High Probability Advisors LLC raised its stake in Fidelity Quality Factor ETF by 2.0% in the fourth quarter. High Probability Advisors LLC now owns 309,369 shares of the company’s stock valued at $23,385,000 after purchasing an additional 6,021 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Fidelity Quality Factor ETF by 0.7% in the fourth quarter. JPMorgan Chase & Co. now owns 247,976 shares of the company’s stock valued at $18,745,000 after purchasing an additional 1,688 shares in the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.