Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – Still a Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $61.98 and last traded at $62.0450, with a volume of 5645 shares changing hands. The stock had previously closed at $61.75.

Fidelity Dividend ETF for Rising Rates Trading Up 0.2%

The firm has a market capitalization of $678.31 million, a PE ratio of 17.77 and a beta of 0.91. The business has a 50 day moving average price of $61.22 and a 200-day moving average price of $58.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FDRR. CWM LLC boosted its position in Fidelity Dividend ETF for Rising Rates by 994.4% during the 2nd quarter. CWM LLC now owns 57,621 shares of the company’s stock worth $3,125,000 after purchasing an additional 52,356 shares during the period. NewEdge Advisors LLC raised its position in shares of Fidelity Dividend ETF for Rising Rates by 57.3% during the third quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock worth $5,227,000 after purchasing an additional 32,491 shares during the period. Lido Advisors LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 3rd quarter worth about $1,828,000. JPMorgan Chase & Co. lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 379.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 24,531 shares of the company’s stock valued at $1,330,000 after buying an additional 19,412 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Fidelity Dividend ETF for Rising Rates by 227.6% during the third quarter. Creative Financial Designs Inc. ADV now owns 23,765 shares of the company’s stock valued at $1,393,000 after purchasing an additional 16,510 shares during the last quarter.

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.