Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 12-Month High – Here’s What Happened

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.47 and last traded at $63.43, with a volume of 250624 shares trading hands. The stock had previously closed at $63.01.

Fidelity High Dividend ETF Trading Up 1.7%

The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 17.18 and a beta of 0.86. The company’s 50-day moving average is $61.46 and its 200-day moving average is $59.20.

Hedge Funds Weigh In On Fidelity High Dividend ETF

Several hedge funds and other institutional investors have recently modified their holdings of FDVV. Federation des caisses Desjardins du Quebec bought a new position in shares of Fidelity High Dividend ETF in the fourth quarter worth about $25,000. Monetary Solutions Ltd acquired a new stake in Fidelity High Dividend ETF in the fourth quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in shares of Fidelity High Dividend ETF during the second quarter worth about $27,000. Optima Capital LLC bought a new position in Fidelity High Dividend ETF during the 4th quarter worth approximately $33,000. Finally, Global Assets Advisory LLC bought a new position in Fidelity High Dividend ETF during the first quarter worth $36,000.

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.