Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Stock Short Interest Declines 80.6%

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 3,724 shares, a decrease of 80.6% from the October 15th total of 19,230 shares. Based on an average trading volume of 25,418 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

A number of institutional investors have recently modified their holdings of FDRR. Citadel Advisors LLC boosted its stake in Fidelity Dividend ETF for Rising Rates by 93.1% in the second quarter. Citadel Advisors LLC now owns 42,450 shares of the company’s stock valued at $2,754,000 after acquiring an additional 20,466 shares in the last quarter. Midwest Financial Network LLC increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 149.9% in the third quarter. Midwest Financial Network LLC now owns 50,907 shares of the company’s stock valued at $3,471,000 after purchasing an additional 30,533 shares during the period. Park Avenue Securities LLC purchased a new position in Fidelity Dividend ETF for Rising Rates during the 3rd quarter worth approximately $745,000. Kestra Advisory Services LLC raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 32.0% during the first quarter. Kestra Advisory Services LLC now owns 66,941 shares of the company’s stock worth $3,936,000 after purchasing an additional 16,217 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Fidelity Dividend ETF for Rising Rates by 25.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 130,209 shares of the company’s stock valued at $8,448,000 after buying an additional 26,281 shares during the last quarter.

Fidelity Dividend ETF for Rising Rates Stock Down 0.3%

Shares of NYSEARCA FDRR traded down $0.21 during midday trading on Friday, reaching $67.78. 16,305 shares of the company’s stock traded hands, compared to its average volume of 19,395. The stock’s 50 day simple moving average is $68.93 and its 200-day simple moving average is $65.57. The company has a market cap of $759.14 million, a price-to-earnings ratio of 20.10 and a beta of 0.89. Fidelity Dividend ETF for Rising Rates has a one year low of $57.18 and a one year high of $70.70.

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.