Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 12-Month High – Should You Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high on Thursday . The stock traded as high as $66.30 and last traded at $66.19, with a volume of 1339 shares traded. The stock had previously closed at $65.74.

Fidelity Dividend ETF for Rising Rates Stock Up 1.3%

The business has a 50 day simple moving average of $62.29 and a 200 day simple moving average of $61.59. The company has a market capitalization of $731.28 million, a PE ratio of 17.77 and a beta of 0.87.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in Fidelity Dividend ETF for Rising Rates in the first quarter valued at about $217,000. Sunbelt Securities Inc. raised its stake in Fidelity Dividend ETF for Rising Rates by 128.4% in the first quarter. Sunbelt Securities Inc. now owns 12,501 shares of the company’s stock valued at $735,000 after buying an additional 7,027 shares during the last quarter. Royal Bank of Canada raised its stake in Fidelity Dividend ETF for Rising Rates by 17.7% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $140,000 after buying an additional 360 shares during the last quarter. MWA Asset Management purchased a new stake in Fidelity Dividend ETF for Rising Rates in the first quarter valued at about $54,000. Finally, Cetera Investment Advisers raised its stake in Fidelity Dividend ETF for Rising Rates by 23.9% in the first quarter. Cetera Investment Advisers now owns 76,802 shares of the company’s stock valued at $4,516,000 after buying an additional 14,805 shares during 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.