Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Drop in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 13,195 shares, a decline of 66.4% from the May 31st total of 39,277 shares. Based on an average trading volume of 15,921 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the company’s shares are short sold.

Fidelity Dividend ETF for Rising Rates Stock Performance

FDRR traded up $0.55 on Monday, reaching $64.88. 32,970 shares of the company’s stock were exchanged, compared to its average volume of 19,117. Fidelity Dividend ETF for Rising Rates has a twelve month low of $53.83 and a twelve month high of $67.68. The company’s 50 day moving average is $64.84 and its 200-day moving average is $62.42. The company has a market cap of $707.19 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new position in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $25,000. Birchwood Financial Partners Inc. acquired a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at approximately $49,000. Fifth Third Bancorp bought a new position in Fidelity Dividend ETF for Rising Rates during the 1st quarter valued at $53,000. Finally, MWA Asset Management bought a new position in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth about $54,000.

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.