Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Significant Increase in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 88,147 shares, an increase of 30.0% from the November 30th total of 67,784 shares. Based on an average daily trading volume, of 26,063 shares, the days-to-cover ratio is presently 3.4 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 26,063 shares, the days-to-cover ratio is presently 3.4 days.

Fidelity Dividend ETF for Rising Rates Price Performance

NYSEARCA:FDRR traded down $0.09 during trading hours on Tuesday, reaching $61.24. 21,435 shares of the stock were exchanged, compared to its average volume of 20,074. The stock has a market cap of $649.14 million, a PE ratio of 17.77 and a beta of 0.91. Fidelity Dividend ETF for Rising Rates has a twelve month low of $43.06 and a twelve month high of $61.98. The firm has a 50 day moving average of $60.38 and a 200 day moving average of $57.86.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Hedge funds and other institutional investors have recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp acquired a new position in Fidelity Dividend ETF for Rising Rates during the third quarter worth $110,000. Advisory Services Network LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the 3rd quarter valued at about $79,000. Stonebridge Financial Planning Group LLC increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 2.6% during the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 18,445 shares of the company’s stock worth $1,081,000 after purchasing an additional 475 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 57.3% in the 3rd quarter. NewEdge Advisors LLC now owns 89,171 shares of the company’s stock valued at $5,227,000 after purchasing an additional 32,491 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Fidelity Dividend ETF for Rising Rates by 19.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 8,696 shares of the company’s stock valued at $510,000 after purchasing an additional 1,445 shares during the last quarter.

Fidelity Dividend ETF for Rising Rates Company Profile

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.