Fidelity High Dividend ETF (NYSEARCA:FDVV) Hits New 1-Year High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV) hit a new 52-week high during trading on Monday . The company traded as high as $59.76 and last traded at $59.4920, with a volume of 6585 shares traded. The stock had previously closed at $59.62.

Fidelity High Dividend ETF Stock Performance

The firm’s 50 day moving average is $57.27 and its 200-day moving average is $55.99. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 17.18 and a beta of 0.92.

Institutional Investors Weigh In On Fidelity High Dividend ETF

Several hedge funds have recently modified their holdings of FDVV. Royal Bank of Canada increased its stake in shares of Fidelity High Dividend ETF by 6.0% in the 1st quarter. Royal Bank of Canada now owns 108,308 shares of the company’s stock valued at $5,373,000 after purchasing an additional 6,174 shares in the last quarter. Investment Advisory Group LLC purchased a new position in shares of Fidelity High Dividend ETF during the 2nd quarter valued at approximately $337,000. Ellis Investment Partners LLC grew its stake in Fidelity High Dividend ETF by 5.2% in the 2nd quarter. Ellis Investment Partners LLC now owns 4,828 shares of the company’s stock valued at $251,000 after acquiring an additional 240 shares during the period. Carbahal Olsen Financial Services Group LLC increased its holdings in Fidelity High Dividend ETF by 1.4% in the 2nd quarter. Carbahal Olsen Financial Services Group LLC now owns 123,754 shares of the company’s stock worth $6,438,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Fidelity High Dividend ETF by 34.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 66,852 shares of the company’s stock worth $3,478,000 after acquiring an additional 17,047 shares during the period.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.