Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Strong Trading Volume – Here’s What Happened

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares saw unusually-strong trading volume on Wednesday. 17,446 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 18,585 shares. The stock last traded at $68.8740 and had previously closed at $68.33.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company has a market cap of $756.86 million, a PE ratio of 17.77 and a beta of 0.88. The stock has a 50 day moving average of $69.15 and a 200-day moving average of $65.58.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FDRR. Ameritas Advisory Services LLC raised its stake in shares of Fidelity Dividend ETF for Rising Rates by 52.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,092,623 shares of the company’s stock worth $70,889,000 after purchasing an additional 375,226 shares during the last quarter. Private Advisor Group LLC boosted its position in Fidelity Dividend ETF for Rising Rates by 1.8% in the first quarter. Private Advisor Group LLC now owns 169,275 shares of the company’s stock valued at $9,954,000 after buying an additional 2,984 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Fidelity Dividend ETF for Rising Rates by 25.3% in the second quarter. Envestnet Asset Management Inc. now owns 130,209 shares of the company’s stock valued at $8,448,000 after buying an additional 26,281 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Fidelity Dividend ETF for Rising Rates by 0.6% in the 2nd quarter. NewEdge Advisors LLC now owns 88,964 shares of the company’s stock worth $5,772,000 after buying an additional 533 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Fidelity Dividend ETF for Rising Rates by 23.9% in the 1st quarter. Cetera Investment Advisers now owns 76,802 shares of the company’s stock worth $4,516,000 after buying an additional 14,805 shares during the period.

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. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.