Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – Time to Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.75 and last traded at $51.75, with a volume of 727 shares trading hands. The stock had previously closed at $51.60.

Fidelity Dividend ETF for Rising Rates Stock Performance

The company has a market capitalization of $591.77 million, a PE ratio of 14.66 and a beta of 0.84. The stock’s fifty day simple moving average is $50.03 and its 200-day simple moving average is $48.26.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 0.9% during the 2nd quarter. Raymond James & Associates now owns 39,400 shares of the company’s stock worth $1,901,000 after acquiring an additional 334 shares during the period. CWM LLC lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 9.8% during the 2nd quarter. CWM LLC now owns 3,802 shares of the company’s stock worth $183,000 after acquiring an additional 340 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 0.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 103,019 shares of the company’s stock worth $4,971,000 after acquiring an additional 601 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 3.0% during the 2nd quarter. Cetera Investment Advisers now owns 26,800 shares of the company’s stock worth $1,293,000 after acquiring an additional 788 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 24.4% during the 2nd quarter. Truist Financial Corp now owns 5,631 shares of the company’s stock worth $272,000 after acquiring 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.