Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Hits New 52-Week High – Should You Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.92 and last traded at $37.7260, with a volume of 58077 shares. The stock had previously closed at $37.51.

Fidelity Enhanced Mid Cap ETF Price Performance

The stock’s 50-day moving average is $36.52 and its 200 day moving average is $35.89. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 20.20 and a beta of 1.13.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

A number of institutional investors and hedge funds have recently made changes to their positions in FMDE. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fidelity Enhanced Mid Cap ETF by 201.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 6,960,142 shares of the company’s stock valued at $251,609,000 after purchasing an additional 4,647,932 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Fidelity Enhanced Mid Cap ETF by 12,968.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock valued at $79,741,000 after buying an additional 2,524,924 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Fidelity Enhanced Mid Cap ETF by 8,528.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,022,442 shares of the company’s stock valued at $73,118,000 after acquiring an additional 1,999,003 shares during the period. Raymond James Financial Inc. lifted its position in shares of Fidelity Enhanced Mid Cap ETF by 114.4% during the 3rd quarter. Raymond James Financial Inc. now owns 2,111,621 shares of the company’s stock valued at $76,335,000 after acquiring an additional 1,126,665 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Fidelity Enhanced Mid Cap ETF by 129.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,482,448 shares of the company’s stock worth $53,590,000 after acquiring an additional 836,827 shares in 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.