Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $41.31 and traded as high as $42.01. Fidelity Enhanced Mid Cap ETF shares last traded at $41.83, with a volume of 1,012,951 shares changing hands.

Fidelity Enhanced Mid Cap ETF Stock Up 2.7%

The company has a market cap of $8.70 billion, a price-to-earnings ratio of 18.66 and a beta of 0.90. The stock’s 50-day simple moving average is $41.31 and its 200 day simple moving average is $39.55.

Institutional Investors Weigh In On Fidelity Enhanced Mid Cap ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC purchased a new position in shares of Fidelity Enhanced Mid Cap ETF during the 3rd quarter worth approximately $197,339,000. Citadel Advisors LLC purchased a new position in shares of Fidelity Enhanced Mid Cap ETF during the second quarter worth $118,748,000. Cetera Investment Advisers boosted its position in shares of Fidelity Enhanced Mid Cap ETF by 24.3% during the first quarter. Cetera Investment Advisers now owns 2,043,214 shares of the company’s stock worth $73,474,000 after buying an additional 398,833 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Fidelity Enhanced Mid Cap ETF by 9.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,983,161 shares of the company’s stock worth $80,477,000 after buying an additional 171,715 shares during the period. Finally, Kestra Advisory Services LLC grew its stake in shares of Fidelity Enhanced Mid Cap ETF by 11.4% in the third quarter. Kestra Advisory Services LLC now owns 1,887,639 shares of the company’s stock valued at $76,223,000 after buying an additional 192,892 shares in the last quarter.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.