Fidelity High Dividend ETF (NYSEARCA:FDVV) Shares Break Above 50 Day Moving Average – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $62.18 and traded as high as $62.60. Fidelity High Dividend ETF shares last traded at $62.20, with a volume of 664,095 shares changing hands.

Fidelity High Dividend ETF Trading Up 0.1%

The stock has a 50 day moving average of $62.18 and a 200-day moving average of $60.27. The company has a market capitalization of $10.46 billion, a P/E ratio of 17.18 and a beta of 0.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new position in shares of Fidelity High Dividend ETF in the 3rd quarter worth $193,871,000. Retirement Planning Group LLC purchased a new stake in shares of Fidelity High Dividend ETF during the 3rd quarter worth $176,774,000. Envestnet Asset Management Inc. lifted its stake in shares of Fidelity High Dividend ETF by 6.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,581,834 shares of the company’s stock worth $155,659,000 after purchasing an additional 148,465 shares during the last quarter. Bank of America Corp DE boosted its position in Fidelity High Dividend ETF by 4.6% during the first quarter. Bank of America Corp DE now owns 2,367,217 shares of the company’s stock valued at $130,765,000 after purchasing an additional 104,028 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Fidelity High Dividend ETF by 15.7% during the first quarter. Cetera Investment Advisers now owns 2,017,386 shares of the company’s stock valued at $111,440,000 after purchasing an additional 273,148 shares in the last quarter.

Fidelity High Dividend ETF Company Profile

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.