Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Hits New 52-Week High – Time to Buy?

Shares of Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) hit a new 52-week high on Wednesday . The company traded as high as $40.00 and last traded at $39.76, with a volume of 692179 shares traded. The stock had previously closed at $39.78.

Fidelity Enhanced Small Cap ETF Price Performance

The stock has a market capitalization of $3.54 billion, a P/E ratio of 16.78 and a beta of 1.48. The firm has a 50-day simple moving average of $37.84 and a 200 day simple moving average of $36.02.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its holdings in 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 worth $28,000 after acquiring an additional 308 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of Fidelity Enhanced Small Cap ETF during the second quarter worth $31,000. Farther Finance Advisors LLC acquired a new position in shares of Fidelity Enhanced Small Cap ETF during the second quarter worth $36,000. Harbor Asset Planning Inc. bought a new stake in shares of Fidelity Enhanced Small Cap ETF in the third quarter worth $61,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Fidelity Enhanced Small Cap ETF in the second quarter valued at $55,000.

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.