Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Reaches New 1-Year High – Still a Buy?

Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $74.17 and last traded at $74.1710, with a volume of 54,690 shares. The stock had previously closed at $74.12.

Fidelity Low Volatility Factor ETF Stock Down 0.4%

The firm has a 50 day moving average price of $72.32 and a 200 day moving average price of $70.50. The stock has a market cap of $1.50 billion, a PE ratio of 24.34 and a beta of 0.76.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FDLO. Envestnet Asset Management Inc. boosted its holdings in Fidelity Low Volatility Factor ETF by 1.9% during the second quarter. Envestnet Asset Management Inc. now owns 534,296 shares of the company’s stock worth $36,511,000 after buying an additional 9,779 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Fidelity Low Volatility Factor ETF by 6.4% in the first quarter. Cetera Investment Advisers now owns 256,501 shares of the company’s stock worth $16,567,000 after acquiring an additional 15,335 shares during the period. Ameritas Advisory Services LLC raised its position in shares of Fidelity Low Volatility Factor ETF by 138.3% in the second quarter. Ameritas Advisory Services LLC now owns 254,114 shares of the company’s stock worth $17,365,000 after acquiring an additional 147,473 shares during the period. Corient Private Wealth LP boosted its stake in shares of Fidelity Low Volatility Factor ETF by 1,667.4% during the 2nd quarter. Corient Private Wealth LP now owns 186,302 shares of the company’s stock worth $12,731,000 after acquiring an additional 175,761 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Fidelity Low Volatility Factor ETF by 6.2% during the 2nd quarter. NewEdge Advisors LLC now owns 123,304 shares of the company’s stock worth $8,426,000 after acquiring an additional 7,240 shares in the last quarter.

Fidelity Low Volatility Factor ETF Company Profile

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.