Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Short Interest Up 77.3% in March

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 9,540 shares, an increase of 77.3% from the February 26th total of 5,381 shares. Based on an average daily trading volume, of 25,756 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Fidelity Dividend ETF for Rising Rates Stock Down 1.0%

NYSEARCA:FDRR opened at $58.44 on Friday. The firm has a market capitalization of $637.00 million, a P/E ratio of 17.77 and a beta of 0.91. The company has a fifty day moving average of $61.30 and a 200 day moving average of $60.34. Fidelity Dividend ETF for Rising Rates has a 52 week low of $43.06 and a 52 week high of $63.34.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Friday, March 20th were given a $0.35 dividend. The ex-dividend date was Friday, March 20th. This is a positive change from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds and other institutional investors have recently modified their holdings of FDRR. O Shaughnessy Asset Management LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $25,000. Birchwood Financial Partners Inc. purchased a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new position in Fidelity Dividend ETF for Rising Rates during the 3rd quarter valued at approximately $49,000. Flagship Harbor Advisors LLC bought a new position in Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at approximately $49,000. Finally, SHP Wealth Management purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth approximately $61,000.

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. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.