Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Significant Growth in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 26,145 shares, an increase of 84.1% from the June 30th total of 14,202 shares. Based on an average daily volume of 15,008 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently bought and sold shares of FDRR. O Shaughnessy Asset Management LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter valued at $25,000. Birchwood Financial Partners Inc. purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $26,000. Flagship Harbor Advisors LLC bought a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $49,000. Fifth Third Bancorp bought a new stake in Fidelity Dividend ETF for Rising Rates in the 1st quarter valued at about $53,000. Finally, MWA Asset Management purchased a new stake in Fidelity Dividend ETF for Rising Rates during the first quarter valued at about $54,000.

Fidelity Dividend ETF for Rising Rates Price Performance

Shares of NYSEARCA FDRR traded up $0.34 during mid-day trading on Friday, reaching $67.80. 12,186 shares of the company’s stock were exchanged, compared to its average volume of 18,513. The firm has a 50-day moving average price of $66.16 and a two-hundred day moving average price of $63.28. The firm has a market capitalization of $739.02 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 52 week low of $54.38 and a 52 week high of $68.04.

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.