Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 1-Year High – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.98 and last traded at $62.0450, with a volume of 5645 shares changing hands. The stock had previously closed at $61.75.

Fidelity Dividend ETF for Rising Rates Price Performance

The stock has a fifty day moving average price of $61.01 and a two-hundred day moving average price of $58.86. The company has a market cap of $676.13 million, a P/E ratio of 17.77 and a beta of 0.91.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently bought and sold shares of FDRR. Bank of America Corp DE increased its stake in Fidelity Dividend ETF for Rising Rates by 1.2% during the 3rd quarter. Bank of America Corp DE now owns 231,306 shares of the company’s stock valued at $13,559,000 after buying an additional 2,774 shares during the period. Private Advisor Group LLC increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 1.3% during the third quarter. Private Advisor Group LLC now owns 179,052 shares of the company’s stock valued at $10,496,000 after acquiring an additional 2,263 shares during the period. Charter Capital Management LLC DE raised its holdings in Fidelity Dividend ETF for Rising Rates by 1.0% during the fourth quarter. Charter Capital Management LLC DE now owns 136,136 shares of the company’s stock worth $8,307,000 after purchasing an additional 1,388 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Fidelity Dividend ETF for Rising Rates by 8.7% during the second quarter. Osaic Holdings Inc. now owns 122,308 shares of the company’s stock worth $6,634,000 after purchasing an additional 9,747 shares in the last quarter. Finally, CWM LLC lifted its position in Fidelity Dividend ETF for Rising Rates by 22.0% in the fourth quarter. CWM LLC now owns 92,308 shares of the company’s stock worth $5,633,000 after purchasing an additional 16,633 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.