Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 1-Year High – Should You Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares reached a new 52-week high on Monday . The company traded as high as $68.11 and last traded at $68.0860, with a volume of 2132 shares. The stock had previously closed at $67.80.

Fidelity Dividend ETF for Rising Rates Stock Performance

The business’s 50 day moving average price is $66.34 and its 200-day moving average price is $63.43. The company has a market cap of $760.06 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds have recently modified their holdings of FDRR. O Shaughnessy Asset Management LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at $25,000. Birchwood Financial Partners Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at approximately $49,000. Fifth Third Bancorp bought a new position in Fidelity Dividend ETF for Rising Rates in the 1st quarter worth approximately $53,000. Finally, MWA Asset Management bought a new position in Fidelity Dividend ETF for Rising Rates in the 1st quarter valued at $54,000.

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.