Short Interest in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Declines By 66.4%

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 13,195 shares, a drop of 66.4% from the May 31st total of 39,277 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 15,921 shares, the short-interest ratio is presently 0.8 days.

Fidelity Dividend ETF for Rising Rates Trading Up 0.2%

Fidelity Dividend ETF for Rising Rates stock traded up $0.11 during mid-day trading on Friday, hitting $64.33. The company’s stock had a trading volume of 28,362 shares, compared to its average volume of 19,003. The firm has a market capitalization of $701.20 million, a PE ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 1 year low of $53.62 and a 1 year high of $67.68. The stock’s fifty day moving average is $64.79 and its two-hundred day moving average is $62.39.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of Fidelity Dividend ETF for Rising Rates by 98.8% during the first quarter. Jane Street Group LLC now owns 12,715 shares of the company’s stock worth $635,000 after purchasing an additional 6,319 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Fidelity Dividend ETF for Rising Rates by 379.2% in the second quarter. JPMorgan Chase & Co. now owns 24,531 shares of the company’s stock valued at $1,330,000 after purchasing an additional 19,412 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Fidelity Dividend ETF for Rising Rates during the 2nd quarter worth $94,000. Bank of America Corp DE lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 2.6% in the 2nd quarter. Bank of America Corp DE now owns 228,532 shares of the company’s stock valued at $12,393,000 after purchasing an additional 5,796 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 5.4% in the second quarter. MML Investors Services LLC now owns 20,375 shares of the company’s stock valued at $1,105,000 after acquiring an additional 1,043 shares during the period.

Fidelity Dividend ETF for Rising Rates Company Profile

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund that is based on the Fidelity Dividend for Rising Rates index. The fund tracks an index of large- and mid-cap companies in developed nations that exhibit strong dividend characteristics and have a positive correlation to increasing 10-year US Treasury yields. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.