Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares reached a new 52-week high on Friday . The company traded as high as $65.66 and last traded at $65.3950, with a volume of 2099 shares traded. The stock had previously closed at $65.04.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company has a market cap of $716.35 million, a price-to-earnings ratio of 17.77 and a beta of 0.87. The stock’s fifty day moving average is $61.57 and its two-hundred day moving average is $61.33.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Institutional investors and hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $25,000. Birchwood Financial Partners Inc. acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $49,000. Cornerstone Planning Group LLC purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 3rd quarter valued at about $49,000. Finally, Fifth Third Bancorp bought a new position in shares of Fidelity Dividend ETF for Rising Rates during the 1st quarter worth approximately $53,000.

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.