Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Reaches New 12-Month High – Should You Buy?

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) shares hit a new 52-week high on Monday . The stock traded as high as $103.56 and last traded at $103.35, with a volume of 103077 shares trading hands. The stock had previously closed at $103.30.

Fidelity NASDAQ Composite Index ETF Stock Up 0.2%

The stock has a market cap of $10.53 billion, a P/E ratio of 28.20 and a beta of 1.21. The firm’s 50-day moving average is $90.66 and its two-hundred day moving average is $91.16.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 20th were given a dividend of $0.111 per share. This represents a $0.44 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, March 20th.

Hedge Funds Weigh In On Fidelity NASDAQ Composite Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 72.6% during the fourth quarter. Brighton Jones LLC now owns 5,117 shares of the company’s stock worth $389,000 after buying an additional 2,153 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Fidelity NASDAQ Composite Index ETF during the first quarter worth $475,000. Integrated Wealth Concepts LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 5,072 shares of the company’s stock worth $345,000 after buying an additional 525 shares in the last quarter. Jane Street Group LLC acquired a new stake in Fidelity NASDAQ Composite Index ETF during the first quarter worth $3,330,000. Finally, Marshall Wace LLP acquired a new stake in Fidelity NASDAQ Composite Index ETF during the second quarter worth $335,000.

Fidelity NASDAQ Composite Index ETF Company Profile

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.