Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 52-Week High – Here’s Why

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) hit a new 52-week high during trading on Tuesday . The stock traded as high as $63.47 and last traded at $63.43, with a volume of 250624 shares changing hands. The stock had previously closed at $63.01.

Fidelity High Dividend ETF Stock Performance

The stock has a market cap of $10.34 billion, a P/E ratio of 17.18 and a beta of 0.86. The firm’s fifty day simple moving average is $61.58 and its 200-day simple moving average is $59.29.

Hedge Funds Weigh In On Fidelity High Dividend ETF

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Fidelity High Dividend ETF by 6.0% during the 1st quarter. Royal Bank of Canada now owns 108,308 shares of the company’s stock worth $5,373,000 after acquiring an additional 6,174 shares during the period. Brown Advisory Inc. bought a new stake in shares of Fidelity High Dividend ETF during the 2nd quarter valued at about $320,000. Qube Research & Technologies Ltd boosted its position in shares of Fidelity High Dividend ETF by 95.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 18,761 shares of the company’s stock valued at $976,000 after purchasing an additional 9,169 shares in the last quarter. NewEdge Advisors LLC grew its stake in Fidelity High Dividend ETF by 49.8% during the second quarter. NewEdge Advisors LLC now owns 112,833 shares of the company’s stock worth $5,870,000 after purchasing an additional 37,501 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Fidelity High Dividend ETF during the second quarter worth approximately $27,000.

Fidelity High Dividend ETF Company Profile

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.