Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 12-Month High – Should You Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $59.55 and last traded at $59.59, with a volume of 3096 shares traded. The stock had previously closed at $58.89.

Fidelity Dividend ETF for Rising Rates Stock Up 1.1%

The stock has a 50 day moving average of $58.05 and a 200 day moving average of $54.29. The firm has a market capitalization of $633.03 million, a price-to-earnings ratio of 17.77 and a beta of 0.95.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CX Institutional boosted its stake in Fidelity Dividend ETF for Rising Rates by 32.4% in the second quarter. CX Institutional now owns 772 shares of the company’s stock valued at $42,000 after acquiring an additional 189 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Fidelity Dividend ETF for Rising Rates by 2.7% in the second quarter. Creative Financial Designs Inc. ADV now owns 7,255 shares of the company’s stock valued at $393,000 after acquiring an additional 190 shares during the period. Summit X LLC boosted its stake in Fidelity Dividend ETF for Rising Rates by 1.5% in the first quarter. Summit X LLC now owns 19,495 shares of the company’s stock valued at $974,000 after acquiring an additional 297 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity Dividend ETF for Rising Rates by 4.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,944 shares of the company’s stock valued at $447,000 after acquiring an additional 340 shares during the period. Finally, Stonebridge Financial Planning Group LLC boosted its stake in Fidelity Dividend ETF for Rising Rates by 1.9% in the second quarter. Stonebridge Financial Planning Group LLC now owns 17,970 shares of the company’s stock valued at $974,000 after acquiring an additional 340 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.