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

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 5,381 shares, a decrease of 85.5% from the February 12th total of 37,232 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 20,815 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 20,815 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Fidelity Dividend ETF for Rising Rates Stock Performance

Shares of FDRR stock traded up $0.07 during trading on Tuesday, hitting $60.88. 18,626 shares of the company were exchanged, compared to its average volume of 21,351. The business’s 50-day simple moving average is $61.80 and its 200 day simple moving average is $60.21. Fidelity Dividend ETF for Rising Rates has a twelve month low of $43.06 and a twelve month high of $63.34. The firm has a market capitalization of $663.59 million, a price-to-earnings ratio of 17.77 and a beta of 0.91.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of institutional investors have recently modified their holdings of FDRR. Jane Street Group LLC lifted its stake in Fidelity Dividend ETF for Rising Rates by 98.8% in the first quarter. Jane Street Group LLC now owns 12,715 shares of the company’s stock valued at $635,000 after acquiring an additional 6,319 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 10.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 40,601 shares of the company’s stock worth $2,202,000 after purchasing an additional 3,710 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 5.8% during the 2nd quarter. Cetera Investment Advisers now owns 41,764 shares of the company’s stock worth $2,265,000 after purchasing an additional 2,275 shares during the last quarter. Sykon Capital LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates during the 2nd quarter valued at $526,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 379.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 24,531 shares of the company’s stock valued at $1,330,000 after purchasing an additional 19,412 shares in the last quarter.

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.