Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 1-Year High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $63.00 and last traded at $62.88, with a volume of 61088 shares trading hands. The stock had previously closed at $62.40.

Fidelity High Dividend ETF Stock Performance

The company has a market cap of $10.15 billion, a price-to-earnings ratio of 17.18 and a beta of 0.86. The company’s 50 day moving average price is $61.13 and its 200 day moving average price is $58.95.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in Fidelity High Dividend ETF by 36.8% in the 4th quarter. LPL Financial LLC now owns 6,160,630 shares of the company’s stock worth $349,246,000 after purchasing an additional 1,655,768 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Fidelity High Dividend ETF by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,034,654 shares of the company’s stock worth $172,035,000 after buying an additional 75,387 shares during the period. Retirement Planning Group LLC grew its stake in Fidelity High Dividend ETF by 9.4% in the 1st quarter. Retirement Planning Group LLC now owns 2,532,542 shares of the company’s stock valued at $139,898,000 after buying an additional 217,772 shares during the last quarter. Morgan Stanley grew its stake in Fidelity High Dividend ETF by 7.6% in the 4th quarter. Morgan Stanley now owns 2,520,014 shares of the company’s stock valued at $142,860,000 after buying an additional 177,157 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Fidelity High Dividend ETF by 4.6% in the 1st quarter. Bank of America Corp DE now owns 2,367,217 shares of the company’s stock worth $130,765,000 after acquiring an additional 104,028 shares during the period.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.