Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 52-Week High – Here’s Why

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.40 and last traded at $41.40, with a volume of 189 shares traded. The stock had previously closed at $40.60.

Fidelity Enhanced Mid Cap ETF Price Performance

The business’s 50 day simple moving average is $39.53 and its 200 day simple moving average is $37.96. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 20.20 and a beta of 0.91.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Fidelity Enhanced Mid Cap ETF by 170.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,829,902 shares of the company’s stock worth $685,032,000 after acquiring an additional 11,869,760 shares during the period. LPL Financial LLC increased its holdings in shares of Fidelity Enhanced Mid Cap ETF by 28.3% in the fourth quarter. LPL Financial LLC now owns 4,947,566 shares of the company’s stock valued at $179,992,000 after purchasing an additional 1,090,826 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Fidelity Enhanced Mid Cap ETF by 90.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,432,732 shares of the company’s stock valued at $124,883,000 after purchasing an additional 1,627,937 shares during the period. Huntington National Bank raised its stake in shares of Fidelity Enhanced Mid Cap ETF by 6.4% during the fourth quarter. Huntington National Bank now owns 2,878,740 shares of the company’s stock worth $104,729,000 after purchasing an additional 173,185 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock worth $79,741,000 after purchasing an additional 2,524,924 shares during the last quarter.

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.