Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Hits New 52-Week High – Should You Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) reached a new 52-week high on Monday . The stock traded as high as $42.61 and last traded at $42.55, with a volume of 188086 shares trading hands. The stock had previously closed at $42.31.

Fidelity Enhanced Small Cap ETF Trading Up 0.8%

The stock has a market capitalization of $4.67 billion, a PE ratio of 16.78 and a beta of 1.36. The firm has a 50 day moving average of $39.30 and a two-hundred day moving average of $38.49.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Several hedge funds have recently bought and sold shares of FESM. Royal Bank of Canada increased its stake in Fidelity Enhanced Small Cap ETF by 4.2% in the 1st quarter. Royal Bank of Canada now owns 207,226 shares of the company’s stock valued at $6,109,000 after purchasing an additional 8,269 shares in the last quarter. Raymond James Financial Inc. increased its stake in Fidelity Enhanced Small Cap ETF by 146.9% in the 2nd quarter. Raymond James Financial Inc. now owns 256,131 shares of the company’s stock valued at $8,194,000 after purchasing an additional 152,392 shares in the last quarter. Jane Street Group LLC purchased a new position in Fidelity Enhanced Small Cap ETF in the 2nd quarter valued at approximately $1,873,000. CLG LLC purchased a new position in Fidelity Enhanced Small Cap ETF in the 2nd quarter valued at approximately $681,000. Finally, Bank of America Corp DE increased its stake in Fidelity Enhanced Small Cap ETF by 897.4% in the 2nd quarter. Bank of America Corp DE now owns 6,184 shares of the company’s stock valued at $198,000 after purchasing an additional 5,564 shares in the last quarter.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.