Fidelity Clean Energy ETF (BATS:FRNW) Shares Break Above Fifty Day Moving Average – Should You Sell?

Fidelity Clean Energy ETF (BATS:FRNW) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $21.16 and traded as high as $21.47. Fidelity Clean Energy ETF shares last traded at $21.36, with a volume of 35,835 shares.

Fidelity Clean Energy ETF Trading Up 1.9%

The company has a market cap of $35.24 million, a price-to-earnings ratio of 21.58 and a beta of 1.12. The firm’s 50-day moving average price is $21.16 and its 200 day moving average price is $23.09.

Hedge Funds Weigh In On Fidelity Clean Energy ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new stake in Fidelity Clean Energy ETF during the 3rd quarter valued at approximately $206,000. Brookstone Capital Management boosted its position in Fidelity Clean Energy ETF by 31.7% during the third quarter. Brookstone Capital Management now owns 45,654 shares of the company’s stock worth $962,000 after purchasing an additional 10,984 shares in the last quarter. IFP Advisors Inc acquired a new stake in Fidelity Clean Energy ETF during the 2nd quarter worth approximately $62,000. Citadel Advisors LLC purchased a new position in Fidelity Clean Energy ETF in the second quarter valued at about $327,000. Finally, Sunbelt Securities Inc. increased its stake in Fidelity Clean Energy ETF by 3.5% during the 1st quarter. Sunbelt Securities Inc. now owns 11,992 shares of the company’s stock worth $277,000 after buying an additional 411 shares during the period.

Fidelity Clean Energy ETF Company Profile

The Fidelity Clean Energy ETF (FRNW) is an exchange-traded fund that is based on the Fidelity Clean Energy index, a market-cap-weighted index of global clean energy companies screened for environmental, social, and governance factors. FRNW was launched on Oct 5, 2021 and is managed by Fidelity.