Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Drop in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 7,250 shares, a decline of 35.6% from the August 15th total of 11,264 shares. Based on an average daily volume of 14,591 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 2.4% during the second quarter. Integrated Wealth Concepts LLC now owns 9,538 shares of the company’s stock valued at $619,000 after buying an additional 228 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Fidelity Dividend ETF for Rising Rates by 0.6% during the second quarter. NewEdge Advisors LLC now owns 88,964 shares of the company’s stock worth $5,772,000 after purchasing an additional 533 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 93.1% in the 2nd quarter. Citadel Advisors LLC now owns 42,450 shares of the company’s stock worth $2,754,000 after purchasing an additional 20,466 shares in the last quarter. Ameritas Advisory Services LLC increased its position in shares of Fidelity Dividend ETF for Rising Rates by 52.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,092,623 shares of the company’s stock valued at $70,889,000 after purchasing an additional 375,226 shares during the last quarter. Finally, Midwest Financial Network LLC raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 60.6% during the 2nd quarter. Midwest Financial Network LLC now owns 20,374 shares of the company’s stock valued at $1,323,000 after buying an additional 7,686 shares in the last quarter.

Fidelity Dividend ETF for Rising Rates Price Performance

Shares of Fidelity Dividend ETF for Rising Rates stock traded up $0.85 during midday trading on Thursday, hitting $70.02. 21,754 shares of the company were exchanged, compared to its average volume of 18,022. The firm has a 50 day simple moving average of $68.72 and a 200-day simple moving average of $65.08. Fidelity Dividend ETF for Rising Rates has a 52 week low of $57.18 and a 52 week high of $70.70. The firm has a market cap of $763.22 million, a P/E ratio of 17.77 and a beta of 0.88.

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.