Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 12-Month High – What’s Next?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high on Monday . The stock traded as high as $62.46 and last traded at $62.4150, with a volume of 13314 shares trading hands. The stock had previously closed at $62.17.

Fidelity Dividend ETF for Rising Rates Trading Up 0.4%

The business’s fifty day moving average price is $61.28 and its 200 day moving average price is $59.06. The firm has a market capitalization of $680.49 million, a price-to-earnings ratio of 17.77 and a beta of 0.91.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 3rd quarter worth approximately $49,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth approximately $49,000. Advisory Services Network LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the third quarter worth $79,000. CX Institutional grew its position in Fidelity Dividend ETF for Rising Rates by 79.5% in the 3rd quarter. CX Institutional now owns 1,386 shares of the company’s stock valued at $81,000 after buying an additional 614 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the 2nd quarter valued at $94,000.

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.