Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Short Interest Up 84.1% in July

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 26,145 shares, a growth of 84.1% from the June 30th total of 14,202 shares. Based on an average trading volume of 15,008 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the shares of the company are short sold.

Fidelity Dividend ETF for Rising Rates Stock Up 0.6%

Shares of NYSEARCA FDRR traded up $0.38 during midday trading on Thursday, reaching $67.38. 8,580 shares of the stock were exchanged, compared to its average volume of 18,505. The firm has a market cap of $734.49 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a twelve month low of $54.38 and a twelve month high of $68.04. The firm has a 50-day simple moving average of $66.11 and a two-hundred day simple moving average of $63.24.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

A number of hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its position in Fidelity Dividend ETF for Rising Rates by 70,725.6% during the fourth 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. EP Wealth Advisors LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $18,951,000. LPL Financial LLC boosted its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity Dividend ETF for Rising Rates by 456.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock valued at $2,953,000 after acquiring an additional 39,697 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Fidelity Dividend ETF for Rising Rates by 57.3% during the 3rd quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock valued at $5,227,000 after acquiring an additional 32,491 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.