Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 52-Week High – What’s Next?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high on Monday . The stock traded as high as $63.06 and last traded at $62.9550, with a volume of 18757 shares trading hands. The stock had previously closed at $61.78.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company’s fifty day simple moving average is $61.47 and its 200-day simple moving average is $59.30. The company has a market capitalization of $688.28 million, a P/E ratio of 17.77 and a beta of 0.91.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently bought and sold shares of FDRR. Cornerstone Planning Group LLC bought a new position in Fidelity Dividend ETF for Rising Rates in the third quarter worth approximately $49,000. Flagship Harbor Advisors LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at $49,000. Advisory Services Network LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the 3rd quarter worth $79,000. CX Institutional raised its position in shares of Fidelity Dividend ETF for Rising Rates by 79.5% in the 3rd quarter. CX Institutional now owns 1,386 shares of the company’s stock worth $81,000 after acquiring an additional 614 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 2nd quarter worth $94,000.

Fidelity Dividend ETF for Rising Rates Company Profile

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.