Fidelity Quality Factor ETF (NYSEARCA:FQAL) Reaches New 1-Year High – Should You Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $76.78 and last traded at $76.72, with a volume of 7177 shares changing hands. The stock had previously closed at $76.41.

Fidelity Quality Factor ETF Stock Up 0.8%

The company has a market capitalization of $1.17 billion, a PE ratio of 25.46 and a beta of 0.97. The firm’s 50-day moving average is $75.36 and its 200-day moving average is $73.46.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

Institutional investors have recently modified their holdings of the company. Atlas Brown Inc. raised its holdings in shares of Fidelity Quality Factor ETF by 5.6% during the 4th quarter. Atlas Brown Inc. now owns 7,493 shares of the company’s stock valued at $566,000 after buying an additional 394 shares in the last quarter. Breakwater Capital Group bought a new position in Fidelity Quality Factor ETF during the fourth quarter valued at approximately $787,000. Centerline Wealth Advisors LLC bought a new position in Fidelity Quality Factor ETF during the fourth quarter valued at approximately $322,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Fidelity Quality Factor ETF by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,838 shares of the company’s stock worth $2,891,000 after acquiring an additional 1,345 shares in the last quarter. Finally, DecisionMap Wealth Management LLC lifted its holdings in shares of Fidelity Quality Factor ETF by 5.4% in the 4th quarter. DecisionMap Wealth Management LLC now owns 2,962 shares of the company’s stock worth $224,000 after acquiring an additional 151 shares during the last quarter.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.