Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – Time to Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $62.46 and last traded at $62.4150, with a volume of 13314 shares trading hands. The stock had previously closed at $62.17.

Fidelity Dividend ETF for Rising Rates Stock Performance

The firm has a market cap of $680.49 million, a price-to-earnings ratio of 17.77 and a beta of 0.91. The stock’s fifty day moving average is $61.28 and its two-hundred day moving average is $59.06.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 98.8% during the first quarter. Jane Street Group LLC now owns 12,715 shares of the company’s stock valued at $635,000 after acquiring an additional 6,319 shares during the period. CWM LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 994.4% during the second quarter. CWM LLC now owns 57,621 shares of the company’s stock worth $3,125,000 after acquiring an additional 52,356 shares during the period. Envestnet Asset Management Inc. raised its position in Fidelity Dividend ETF for Rising Rates by 10.1% in the second quarter. Envestnet Asset Management Inc. now owns 40,601 shares of the company’s stock worth $2,202,000 after acquiring an additional 3,710 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Fidelity Dividend ETF for Rising Rates by 7.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 7,629 shares of the company’s stock valued at $414,000 after acquiring an additional 497 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 2.7% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 7,255 shares of the company’s stock valued at $393,000 after purchasing an additional 190 shares in 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.