Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Decline in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 5,381 shares, a drop of 85.5% from the February 12th total of 37,232 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 20,815 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 20,815 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Fidelity Dividend ETF for Rising Rates Trading Up 0.1%

Shares of NYSEARCA FDRR traded up $0.07 during mid-day trading on Tuesday, reaching $60.88. The company had a trading volume of 18,626 shares, compared to its average volume of 21,351. The company has a 50-day moving average price of $61.80 and a two-hundred day moving average price of $60.21. The stock has a market cap of $663.59 million, a PE ratio of 17.77 and a beta of 0.91. Fidelity Dividend ETF for Rising Rates has a 1-year low of $43.06 and a 1-year high of $63.34.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Institutional investors have recently bought and sold shares of the stock. SHP Wealth Management purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at $61,000. Monetary Solutions Ltd purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $73,000. Birchwood Financial Partners Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $26,000. High Falls Advisors Inc boosted its position in Fidelity Dividend ETF for Rising Rates by 37.9% during the 4th quarter. High Falls Advisors Inc now owns 6,077 shares of the company’s stock worth $371,000 after acquiring an additional 1,669 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $18,951,000.

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.