Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 1-Year High – Still a Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.37 and last traded at $56.88, with a volume of 16051 shares changing hands. The stock had previously closed at $56.84.

Fidelity Dividend ETF for Rising Rates Stock Performance

The business’s fifty day moving average is $54.86 and its 200-day moving average is $51.98. The firm has a market cap of $601.13 million, a P/E ratio of 17.77 and a beta of 0.95.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently added to or reduced their stakes in FDRR. Wells Fargo & Company MN boosted its holdings in Fidelity Dividend ETF for Rising Rates by 570.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,167 shares of the company’s stock valued at $60,000 after acquiring an additional 993 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at approximately $3,752,000. MML Investors Services LLC increased its holdings in Fidelity Dividend ETF for Rising Rates by 30.7% in the fourth quarter. MML Investors Services LLC now owns 25,204 shares of the company’s stock worth $1,295,000 after purchasing an additional 5,922 shares in the last quarter. Stifel Financial Corp lifted its stake in Fidelity Dividend ETF for Rising Rates by 2.8% in the fourth quarter. Stifel Financial Corp now owns 12,477 shares of the company’s stock valued at $641,000 after buying an additional 335 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Fidelity Dividend ETF for Rising Rates by 11.7% in the fourth quarter. Cetera Investment Advisers now owns 32,177 shares of the company’s stock valued at $1,653,000 after buying an additional 3,380 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.