Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 12-Month High – Still a Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $76.37 and last traded at $76.3950, with a volume of 24438 shares traded. The stock had previously closed at $76.03.

Fidelity Quality Factor ETF Stock Performance

The firm has a market cap of $1.15 billion, a P/E ratio of 25.46 and a beta of 0.97. The business’s 50-day simple moving average is $74.86 and its 200 day simple moving average is $72.38.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Fidelity Quality Factor ETF in the second quarter worth about $33,000. Cornerstone Planning Group LLC purchased a new position in shares of Fidelity Quality Factor ETF in the third quarter worth approximately $38,000. Spire Wealth Management grew its position in Fidelity Quality Factor ETF by 22.4% during the third quarter. Spire Wealth Management now owns 808 shares of the company’s stock valued at $60,000 after buying an additional 148 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in Fidelity Quality Factor ETF during the second quarter valued at approximately $61,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Fidelity Quality Factor ETF by 23.3% during the third quarter. CIBC Private Wealth Group LLC now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 168 shares during the last quarter.

About Fidelity Quality Factor ETF

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.