Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 52-Week High at $49.33

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high on Wednesday . The company traded as high as $49.33 and last traded at $49.29, with a volume of 3648 shares changing hands. The stock had previously closed at $49.09.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company has a market cap of $562.59 million, a price-to-earnings ratio of 14.66 and a beta of 0.84. The company has a 50-day simple moving average of $47.64 and a 200-day simple moving average of $45.84.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 9.8% in the second quarter. CWM LLC now owns 3,802 shares of the company’s stock valued at $183,000 after purchasing an additional 340 shares during the last quarter. Cetera Advisors LLC acquired a new position in Fidelity Dividend ETF for Rising Rates during the first quarter worth about $919,000. Tidal Investments LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the first quarter valued at about $228,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Fidelity Dividend ETF for Rising Rates in the first quarter valued at approximately $3,042,000. Finally, EP Wealth Advisors LLC increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 4.4% during the 1st quarter. EP Wealth Advisors LLC now owns 399,954 shares of the company’s stock worth $18,618,000 after purchasing an additional 16,745 shares in the last quarter.

Fidelity Dividend ETF for Rising Rates Company Profile

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.