Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 52-Week High – Should You Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $81.28 and last traded at $81.28, with a volume of 10664 shares traded. The stock had previously closed at $80.84.

Fidelity Quality Factor ETF Price Performance

The stock’s 50-day moving average is $76.66 and its 200-day moving average is $76.18. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95.

Institutional Trading of Fidelity Quality Factor ETF

A number of hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new stake in Fidelity Quality Factor ETF during the first quarter worth approximately $46,000. Royal Bank of Canada boosted its position in Fidelity Quality Factor ETF by 11.7% during the first quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock worth $202,000 after acquiring an additional 292 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Fidelity Quality Factor ETF by 2.8% in the 1st quarter. Cetera Investment Advisers now owns 171,126 shares of the company’s stock valued at $12,424,000 after purchasing an additional 4,644 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Fidelity Quality Factor ETF by 120.7% in the 1st quarter. Assetmark Inc. now owns 587 shares of the company’s stock valued at $43,000 after purchasing an additional 321 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of Fidelity Quality Factor ETF by 24.8% in the 1st quarter. Valmark Advisers Inc. now owns 24,915 shares of the company’s stock valued at $1,809,000 after purchasing an additional 4,957 shares during the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.