Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sets New 1-Year High – Here’s Why

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) shares hit a new 52-week high on Monday . The stock traded as high as $47.32 and last traded at $47.28, with a volume of 61969 shares trading hands. The stock had previously closed at $46.77.

Fidelity Enhanced Small Cap ETF Price Performance

The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 16.78 and a beta of 1.35. The stock’s 50 day simple moving average is $44.33 and its 200-day simple moving average is $40.96.

Institutional Investors Weigh In On Fidelity Enhanced Small Cap ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC boosted its holdings in Fidelity Enhanced Small Cap ETF by 6.5% in the first quarter. NewEdge Advisors LLC now owns 105,938 shares of the company’s stock worth $4,026,000 after purchasing an additional 6,440 shares in the last quarter. Verus Capital Partners LLC increased its position in Fidelity Enhanced Small Cap ETF by 19.4% during the first quarter. Verus Capital Partners LLC now owns 7,918 shares of the company’s stock worth $301,000 after buying an additional 1,286 shares during the last quarter. Bank of America Corp DE raised its holdings in Fidelity Enhanced Small Cap ETF by 284.6% during the first quarter. Bank of America Corp DE now owns 871,856 shares of the company’s stock valued at $33,131,000 after buying an additional 645,168 shares in the last quarter. Royal Bank of Canada raised its holdings in Fidelity Enhanced Small Cap ETF by 30.7% during the first quarter. Royal Bank of Canada now owns 1,220,056 shares of the company’s stock valued at $46,363,000 after buying an additional 286,625 shares in the last quarter. Finally, Stadion Money Management LLC acquired a new stake in shares of Fidelity Enhanced Small Cap ETF in the first quarter worth about $15,678,000.

Fidelity Enhanced Small Cap ETF Company Profile

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.