Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $53.21 and last traded at $53.10, with a volume of 1241 shares changing hands. The stock had previously closed at $52.98.
Fidelity Dividend ETF for Rising Rates Stock Performance
The company has a market cap of $605.57 million, a PE ratio of 14.66 and a beta of 0.84. The company has a fifty day moving average of $51.33 and a two-hundred day moving average of $49.22.
Institutional Trading of Fidelity Dividend ETF for Rising Rates
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the second quarter worth approximately $60,000. CWM LLC boosted its stake in shares of Fidelity Dividend ETF for Rising Rates by 9.8% during 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 period. Csenge Advisory Group bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the second quarter worth about $209,000. Tidal Investments LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the first quarter worth about $228,000. Finally, Truist Financial Corp increased its stake in Fidelity Dividend ETF for Rising Rates by 24.4% in the 2nd quarter. Truist Financial Corp now owns 5,631 shares of the company’s stock worth $272,000 after buying an additional 1,103 shares during the period.
About Fidelity Dividend ETF for Rising Rates
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.
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