Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 12-Month High – Here’s What Happened

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 $58.89 and last traded at $58.48, with a volume of 19074 shares changing hands. The stock had previously closed at $58.63.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company has a market capitalization of $613.85 million, a P/E ratio of 17.77 and a beta of 0.95. The stock’s fifty day moving average price is $56.84 and its 200-day moving average price is $52.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at $424,000. GAMMA Investing LLC increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 4,895.0% in the first quarter. GAMMA Investing LLC now owns 20,130 shares of the company’s stock valued at $1,005,000 after purchasing an additional 19,727 shares during the last quarter. CX Institutional bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the first quarter valued at about $29,000. Brown Lisle Cummings Inc. lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 6.5% during the 1st quarter. Brown Lisle Cummings Inc. now owns 11,075 shares of the company’s stock worth $553,000 after buying an additional 675 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 16.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,065 shares of the company’s stock worth $353,000 after buying an additional 1,007 shares during the last quarter.

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.