Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – What’s Next?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $63.49 and last traded at $63.3150, with a volume of 5350 shares traded. The stock had previously closed at $62.43.

Fidelity Dividend ETF for Rising Rates Price Performance

The company has a market cap of $688.99 million, a price-to-earnings ratio of 17.77 and a beta of 0.88. The stock has a 50-day moving average price of $60.79 and a 200 day moving average price of $60.60.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were given a dividend of $0.35 per share. This is an increase from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, March 20th.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds have recently modified their holdings of FDRR. Jane Street Group LLC raised its position in shares of Fidelity Dividend ETF for Rising Rates by 98.8% during the first quarter. Jane Street Group LLC now owns 12,715 shares of the company’s stock worth $635,000 after purchasing an additional 6,319 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fidelity Dividend ETF for Rising Rates by 379.2% during the second quarter. JPMorgan Chase & Co. now owns 24,531 shares of the company’s stock worth $1,330,000 after purchasing an additional 19,412 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the second quarter worth about $94,000. Bank of America Corp DE raised its position in shares of Fidelity Dividend ETF for Rising Rates by 2.6% during the second quarter. Bank of America Corp DE now owns 228,532 shares of the company’s stock worth $12,393,000 after purchasing an additional 5,796 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Fidelity Dividend ETF for Rising Rates by 5.4% during the second quarter. MML Investors Services LLC now owns 20,375 shares of the company’s stock worth $1,105,000 after purchasing an additional 1,043 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.