Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sets New 1-Year High – Here’s Why

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $38.06 and last traded at $37.8310, with a volume of 133070 shares. The stock had previously closed at $37.63.

Fidelity Enhanced Mid Cap ETF Price Performance

The company has a market cap of $5.19 billion, a price-to-earnings ratio of 20.20 and a beta of 1.13. The company’s 50-day simple moving average is $37.13 and its 200-day simple moving average is $36.25.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Fidelity Enhanced Mid Cap ETF by 5.2% during the fourth quarter. Sunbelt Securities Inc. now owns 23,003 shares of the company’s stock worth $837,000 after acquiring an additional 1,136 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Fidelity Enhanced Mid Cap ETF during the 4th quarter valued at approximately $255,000. NewEdge Advisors LLC increased its holdings in Fidelity Enhanced Mid Cap ETF by 44.3% during the 4th quarter. NewEdge Advisors LLC now owns 63,959 shares of the company’s stock worth $2,327,000 after purchasing an additional 19,648 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in Fidelity Enhanced Mid Cap ETF during the 4th quarter worth approximately $1,269,000. Finally, Cetera Investment Advisers raised its position in shares of Fidelity Enhanced Mid Cap ETF by 56.5% in the 4th quarter. Cetera Investment Advisers now owns 1,644,381 shares of the company’s stock valued at $59,823,000 after purchasing an additional 593,910 shares in the last quarter.

About Fidelity Enhanced Mid Cap ETF

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.