Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 52-Week High – Still a Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.43 and last traded at $64.4450, with a volume of 11392 shares changing hands. The stock had previously closed at $64.08.

Fidelity Dividend ETF for Rising Rates Trading Up 0.7%

The firm has a fifty day simple moving average of $61.07 and a 200 day simple moving average of $61.10. The stock has a market cap of $703.16 million, a price-to-earnings ratio of 17.77 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC increased its holdings in Fidelity Dividend ETF for Rising Rates by 70,725.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock valued at $45,292,000 after buying an additional 741,204 shares during the period. LPL Financial LLC lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 30.1% during the 4th quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock worth $21,193,000 after acquiring an additional 80,360 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $18,951,000. Bank of America Corp DE boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 1.2% during the 3rd quarter. Bank of America Corp DE now owns 231,306 shares of the company’s stock valued at $13,559,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Private Advisor Group LLC increased 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 valued at $10,496,000 after acquiring an additional 2,263 shares during the period.

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.