Fidelity Value Factor ETF (NYSEARCA:FVAL) Hits New 1-Year High – Time to Buy?

Shares of Fidelity Value Factor ETF (NYSEARCA:FVAL) reached a new 52-week high during trading on Friday . The company traded as high as $83.57 and last traded at $83.57, with a volume of 730 shares trading hands. The stock had previously closed at $83.41.

Fidelity Value Factor ETF Stock Performance

The firm has a market capitalization of $1.38 billion, a PE ratio of 19.06 and a beta of 0.95. The stock’s 50 day simple moving average is $79.45 and its two-hundred day simple moving average is $75.92.

Institutional Investors Weigh In On Fidelity Value Factor ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Fidelity Value Factor ETF by 0.5% during the first quarter. Royal Bank of Canada now owns 165,041 shares of the company’s stock worth $9,835,000 after buying an additional 843 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Fidelity Value Factor ETF in the 1st quarter valued at $1,656,000. NewEdge Advisors LLC grew its holdings in Fidelity Value Factor ETF by 6.9% in the 2nd quarter. NewEdge Advisors LLC now owns 7,775 shares of the company’s stock valued at $497,000 after buying an additional 501 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Fidelity Value Factor ETF in the 2nd quarter worth $340,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Fidelity Value Factor ETF in the 2nd quarter worth $1,074,000.

About Fidelity Value Factor ETF

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.