Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 52-Week High – Time to Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.75 and last traded at $51.75, with a volume of 727 shares trading hands. The stock had previously closed at $51.60.

Fidelity Dividend ETF for Rising Rates Stock Up 0.1 %

The stock’s 50 day moving average price is $50.08 and its 200-day moving average price is $48.29. The stock has a market capitalization of $591.55 million, a PE ratio of 14.66 and a beta of 0.84.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 0.9% during the 2nd quarter. Raymond James & Associates now owns 39,400 shares of the company’s stock worth $1,901,000 after purchasing an additional 334 shares during the last quarter. CWM LLC increased its holdings in Fidelity Dividend ETF for Rising Rates by 9.8% in the second quarter. CWM LLC now owns 3,802 shares of the company’s stock valued at $183,000 after buying an additional 340 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Fidelity Dividend ETF for Rising Rates by 0.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 103,019 shares of the company’s stock valued at $4,971,000 after purchasing an additional 601 shares during the period. Cetera Investment Advisers increased its holdings in Fidelity Dividend ETF for Rising Rates by 3.0% in the 2nd quarter. Cetera Investment Advisers now owns 26,800 shares of the company’s stock worth $1,293,000 after acquiring an additional 788 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Fidelity Dividend ETF for Rising Rates by 24.4% during the 2nd quarter. Truist Financial Corp now owns 5,631 shares of the company’s stock worth $272,000 after purchasing an additional 1,103 shares during the last quarter.

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.