Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Hits New 1-Year High – Time to Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $45.35 and last traded at $45.35, with a volume of 27545 shares traded. The stock had previously closed at $44.81.

Fidelity Enhanced Small Cap ETF Price Performance

The firm’s fifty day moving average price is $41.17 and its two-hundred day moving average price is $39.63. The stock has a market cap of $5.12 billion, a P/E ratio of 16.78 and a beta of 1.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC increased its stake in Fidelity Enhanced Small Cap ETF by 69.7% in the third quarter. Cornerstone Planning Group LLC now owns 750 shares of the company’s stock valued at $28,000 after acquiring an additional 308 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at $66,000. Harbor Asset Planning Inc. increased its stake in Fidelity Enhanced Small Cap ETF by 18.1% in the fourth quarter. Harbor Asset Planning Inc. now owns 1,954 shares of the company’s stock valued at $74,000 after acquiring an additional 299 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at $83,000. Finally, IFP Advisors Inc bought a new position in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at $85,000.

About Fidelity Enhanced Small Cap ETF

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.