Sugar Maple Asset Management LLC Cuts Stock Position in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)

Sugar Maple Asset Management LLC lessened its holdings in shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,987 shares of the company’s stock after selling 2,634 shares during the quarter. Fidelity Dividend ETF for Rising Rates comprises about 2.9% of Sugar Maple Asset Management LLC’s holdings, making the stock its 11th biggest holding. Sugar Maple Asset Management LLC owned about 0.57% of Fidelity Dividend ETF for Rising Rates worth $3,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FDRR. Larson Financial Group LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 2nd quarter worth approximately $60,000. CWM LLC boosted 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 purchasing an additional 340 shares during the period. Csenge Advisory Group purchased a new position in Fidelity Dividend ETF for Rising Rates in the second quarter valued at $209,000. Tidal Investments LLC acquired a new position in Fidelity Dividend ETF for Rising Rates during the 1st quarter worth $228,000. Finally, Truist Financial Corp increased its holdings in 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 period.

Fidelity Dividend ETF for Rising Rates Stock Performance

Shares of FDRR opened at $52.27 on Friday. Fidelity Dividend ETF for Rising Rates has a 1 year low of $41.05 and a 1 year high of $53.45. The stock has a market capitalization of $595.82 million, a PE ratio of 14.66 and a beta of 0.84. The stock has a 50-day simple moving average of $51.71 and a 200-day simple moving average of $49.60.

About Fidelity Dividend ETF for Rising Rates

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.