Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 12-Month High – Still a Buy?

Shares of Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.57 and last traded at $42.53, with a volume of 55477 shares. The stock had previously closed at $42.37.

Fidelity Enhanced Mid Cap ETF Stock Up 0.2%

The company’s fifty day simple moving average is $40.62 and its 200 day simple moving average is $38.67. The firm has a market capitalization of $8.04 billion, a PE ratio of 20.20 and a beta of 0.91.

Institutional Trading of Fidelity Enhanced Mid Cap ETF

Hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF in the 4th quarter worth about $30,000. Cornerstone Planning Group LLC grew its holdings in Fidelity Enhanced Mid Cap ETF by 70.1% in the first quarter. Cornerstone Planning Group LLC now owns 1,102 shares of the company’s stock worth $43,000 after purchasing an additional 454 shares during the period. Quattro Advisors LLC purchased a new stake in Fidelity Enhanced Mid Cap ETF in the fourth quarter worth about $43,000. Root Financial Partners LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF during the first quarter valued at approximately $54,000. Finally, Advisory Services Network LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF during the third quarter valued at approximately $75,000.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.