Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 52-Week High – Time to Buy?

Shares of Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) reached a new 52-week high on Thursday . The company traded as high as $40.86 and last traded at $40.51, with a volume of 261791 shares. The stock had previously closed at $40.11.

Fidelity Enhanced Mid Cap ETF Trading Up 0.9%

The firm’s fifty day moving average price is $39.09 and its 200-day moving average price is $37.69. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 20.20 and a beta of 0.94.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Fidelity Enhanced Mid Cap ETF by 15.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,450 shares of the company’s stock valued at $84,000 after purchasing an additional 331 shares during the period. Geneva Partners LLC lifted its stake in Fidelity Enhanced Mid Cap ETF by 2.5% in the third quarter. Geneva Partners LLC now owns 15,703 shares of the company’s stock valued at $568,000 after buying an additional 381 shares during the last quarter. Certified Advisory Corp boosted its holdings in shares of Fidelity Enhanced Mid Cap ETF by 1.0% in the third quarter. Certified Advisory Corp now owns 38,431 shares of the company’s stock valued at $1,389,000 after acquiring an additional 390 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Fidelity Enhanced Mid Cap ETF by 70.1% in the first quarter. Cornerstone Planning Group LLC now owns 1,102 shares of the company’s stock valued at $43,000 after acquiring an additional 454 shares during the period. Finally, Evergreen Private Wealth LLC grew its position in shares of Fidelity Enhanced Mid Cap ETF by 1.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 28,986 shares of the company’s stock worth $1,055,000 after acquiring an additional 544 shares during the last quarter.

Fidelity Enhanced Mid Cap ETF Company Profile

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.