Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price hit a new 52-week high on Friday . The stock traded as high as $65.66 and last traded at $65.3950, with a volume of 2099 shares. The stock had previously closed at $65.04.

Fidelity Dividend ETF for Rising Rates Stock Up 1.0%

The company has a market cap of $716.35 million, a P/E ratio of 17.77 and a beta of 0.87. The firm’s 50 day moving average is $61.57 and its two-hundred day moving average is $61.33.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 17.7% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $140,000 after purchasing an additional 360 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at $25,000. Birchwood Financial Partners Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $26,000. Stonebridge Financial Planning Group LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 2.6% during the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 18,445 shares of the company’s stock worth $1,081,000 after acquiring an additional 475 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $49,000.

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.