Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 52-Week High – Here’s What Happened

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.99 and last traded at $60.72, with a volume of 37194 shares. The stock had previously closed at $60.84.

Fidelity Dividend ETF for Rising Rates Price Performance

The company has a market capitalization of $648.08 million, a PE ratio of 17.77 and a beta of 0.91. The stock’s 50 day simple moving average is $59.37 and its 200-day simple moving average is $56.56.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently made changes to their positions in FDRR. CX Institutional increased its holdings in shares of Fidelity Dividend ETF for Rising Rates by 32.4% in the 2nd 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. Cornerstone Planning Group LLC acquired a new position in Fidelity Dividend ETF for Rising Rates in the third quarter valued at $49,000. Advisory Services Network LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the third quarter valued at about $79,000. Darwin Wealth Management LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the second quarter valued at about $94,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates during the third quarter worth about $110,000.

About Fidelity Dividend ETF for Rising Rates

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.