Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 52-Week High – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s share price hit a new 52-week high on Thursday . The stock traded as high as $81.28 and last traded at $81.28, with a volume of 10664 shares changing hands. The stock had previously closed at $80.84.

Fidelity Quality Factor ETF Price Performance

The business has a fifty day moving average price of $76.95 and a 200 day moving average price of $76.27. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

Several large investors have recently bought and sold shares of FQAL. Elyxium Wealth LLC acquired a new stake in shares of Fidelity Quality Factor ETF in the 4th quarter worth approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Fidelity Quality Factor ETF during the fourth quarter worth approximately $33,000. Raymond James Financial Inc. bought a new stake in Fidelity Quality Factor ETF during the second quarter worth approximately $33,000. Cornerstone Planning Group LLC acquired a new stake in Fidelity Quality Factor ETF in the third quarter worth approximately $38,000. Finally, Assetmark Inc. lifted its position in Fidelity Quality Factor ETF by 120.7% in the first quarter. Assetmark Inc. now owns 587 shares of the company’s stock worth $43,000 after purchasing an additional 321 shares during the period.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.