Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Short Interest Down 35.6% in August

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 7,250 shares, a decrease of 35.6% from the August 15th total of 11,264 shares. Based on an average daily volume of 14,591 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the 1st quarter worth approximately $53,000. MWA Asset Management purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the 1st quarter valued at approximately $54,000. SHP Wealth Management bought a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at approximately $61,000. Monetary Solutions Ltd bought a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at approximately $73,000. Finally, Royal Bank of Canada grew its stake in 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 period.

Fidelity Dividend ETF for Rising Rates Trading Down 1.0%

NYSEARCA:FDRR opened at $69.33 on Friday. The company has a 50-day moving average price of $68.83 and a 200-day moving average price of $65.17. The stock has a market cap of $755.70 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 12 month low of $57.18 and a 12 month high of $70.70.

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.