Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Reaches New 52-Week High – Still a Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $40.77 and last traded at $40.5850, with a volume of 618134 shares. The stock had previously closed at $39.88.

Fidelity Enhanced Small Cap ETF Trading Up 1.9%

The stock’s 50-day simple moving average is $38.23 and its 200-day simple moving average is $36.31. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 16.78 and a beta of 1.48.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its position in shares of Fidelity Enhanced Small Cap ETF by 69.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 750 shares of the company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of Fidelity Enhanced Small Cap ETF in the second quarter worth $31,000. Farther Finance Advisors LLC acquired a new position in Fidelity Enhanced Small Cap ETF in the second quarter valued at about $36,000. Harbor Asset Planning Inc. bought a new stake in Fidelity Enhanced Small Cap ETF during the third quarter worth about $61,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Fidelity Enhanced Small Cap ETF during the second quarter worth about $55,000.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.