Fidelity High Dividend ETF (NYSEARCA:FDVV) Hits New 52-Week High – What’s Next?

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $50.72 and last traded at $50.72, with a volume of 129348 shares changing hands. The stock had previously closed at $50.42.

Fidelity High Dividend ETF Trading Up 0.4 %

The company has a market cap of $2.92 billion, a P/E ratio of 11.51 and a beta of 0.82. The company’s fifty day moving average is $49.30 and its 200 day moving average is $47.32.

Hedge Funds Weigh In On Fidelity High Dividend ETF

Several institutional investors and hedge funds have recently bought and sold shares of FDVV. Commonwealth Equity Services LLC grew its holdings in shares of Fidelity High Dividend ETF by 19.4% in the first quarter. Commonwealth Equity Services LLC now owns 2,240,932 shares of the company’s stock worth $101,537,000 after purchasing an additional 364,298 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Fidelity High Dividend ETF during the second quarter valued at approximately $12,937,000. Envestnet Asset Management Inc. raised its holdings in shares of Fidelity High Dividend ETF by 35.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,020,505 shares of the company’s stock valued at $47,739,000 after acquiring an additional 268,292 shares in the last quarter. Arden Trust Co purchased a new stake in Fidelity High Dividend ETF in the first quarter worth $10,217,000. Finally, Cetera Investment Advisers boosted its holdings in Fidelity High Dividend ETF by 130.8% in the first quarter. Cetera Investment Advisers now owns 384,733 shares of the company’s stock valued at $17,432,000 after acquiring an additional 218,023 shares in the last quarter.

Fidelity High Dividend ETF Company Profile

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.