Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Stock Price Down 0.5% – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares traded down 0.5% on Thursday . The stock traded as low as $65.02 and last traded at $65.27. Approximately 16,801 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 18,910 shares. The stock had previously closed at $65.62.

Fidelity Dividend ETF for Rising Rates Price Performance

The stock’s 50-day moving average price is $64.47 and its 200 day moving average price is $62.26. The company has a market cap of $711.44 million, a P/E ratio of 17.77 and a beta of 0.88.

Institutional Inflows and Outflows

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