Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 1-Year High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $60.99 and last traded at $60.70, with a volume of 668493 shares changing hands. The stock had previously closed at $60.70.

Fidelity High Dividend ETF Price Performance

The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 17.18 and a beta of 0.86. The business has a fifty day moving average of $57.73 and a 200 day moving average of $57.51.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its holdings in Fidelity High Dividend ETF by 36.8% in the fourth quarter. LPL Financial LLC now owns 6,160,630 shares of the company’s stock valued at $349,246,000 after acquiring an additional 1,655,768 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Fidelity High Dividend ETF by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,034,654 shares of the company’s stock valued at $172,035,000 after acquiring an additional 75,387 shares during the last quarter. Retirement Planning Group LLC lifted its holdings in Fidelity High Dividend ETF by 9.4% in the first quarter. Retirement Planning Group LLC now owns 2,532,542 shares of the company’s stock valued at $139,898,000 after acquiring an additional 217,772 shares during the last quarter. Morgan Stanley lifted its holdings in Fidelity High Dividend ETF by 7.6% in the fourth quarter. Morgan Stanley now owns 2,520,014 shares of the company’s stock valued at $142,860,000 after acquiring an additional 177,157 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Fidelity High Dividend ETF by 4.6% in the first quarter. Bank of America Corp DE now owns 2,367,217 shares of the company’s stock valued at $130,765,000 after acquiring an additional 104,028 shares during the last quarter.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.