Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – What’s Next?

by · The Markets Daily

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $70.15 and last traded at $70.02, with a volume of 1045 shares trading hands. The stock had previously closed at $69.42.

Fidelity Dividend ETF for Rising Rates Price Performance

The firm has a fifty day moving average price of $66.83 and a two-hundred day moving average price of $63.89. The stock has a market capitalization of $764.20 million, a PE ratio of 17.77 and a beta of 0.88.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently bought and sold shares of FDRR. Royal Bank of Canada lifted its position in shares of Fidelity Dividend ETF for Rising Rates by 17.7% during the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $140,000 after purchasing an additional 360 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $25,000. Birchwood Financial Partners Inc. bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth about $26,000. Fifth Third Bancorp purchased a new position in Fidelity Dividend ETF for Rising Rates in the 1st quarter worth about $53,000. Finally, MWA Asset Management purchased a new position in Fidelity Dividend ETF for Rising Rates in the 1st quarter worth about $54,000.

About Fidelity Dividend ETF for Rising Rates

(Get Free Report)

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.

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