Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – Here’s Why

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high on Tuesday . The stock traded as high as $52.70 and last traded at $52.70, with a volume of 504 shares traded. The stock had previously closed at $52.55.

Fidelity Dividend ETF for Rising Rates Trading Up 1.0 %

The stock has a market cap of $601.24 million, a price-to-earnings ratio of 14.66 and a beta of 0.84. The firm has a fifty day simple moving average of $50.57 and a 200-day simple moving average of $48.50.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several large investors have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates in the second quarter worth about $60,000. CWM LLC boosted its stake in shares of Fidelity Dividend ETF for Rising Rates by 9.8% in the 2nd quarter. CWM LLC now owns 3,802 shares of the company’s stock valued at $183,000 after purchasing an additional 340 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the 2nd quarter worth approximately $209,000. Tidal Investments LLC bought a new stake in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth approximately $228,000. Finally, Truist Financial Corp lifted its holdings in Fidelity Dividend ETF for Rising Rates by 24.4% in the second quarter. Truist Financial Corp now owns 5,631 shares of the company’s stock valued at $272,000 after buying an additional 1,103 shares during the period.

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.