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

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.82 and last traded at $67.8090, with a volume of 4198 shares changing hands. The stock had previously closed at $67.29.

Fidelity Dividend ETF for Rising Rates Price Performance

The firm’s 50-day moving average is $66.00 and its 200 day moving average is $63.15. The stock has a market cap of $738.42 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently made changes to their positions in FDRR. Ameritas Advisory Services LLC increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 70,725.6% during the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after buying an additional 741,204 shares during the last quarter. LPL Financial LLC boosted its holdings in Fidelity Dividend ETF for Rising Rates by 30.1% in the fourth quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock valued at $21,193,000 after acquiring an additional 80,360 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at $18,951,000. Bank of America Corp DE boosted its holdings in Fidelity Dividend ETF for Rising Rates by 1.2% in the third quarter. Bank of America Corp DE now owns 231,306 shares of the company’s stock valued at $13,559,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Fidelity Dividend ETF for Rising Rates by 1.8% during the first quarter. Private Advisor Group LLC now owns 169,275 shares of the company’s stock valued at $9,954,000 after acquiring an additional 2,984 shares during the period.

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