Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High – Should You Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.70 and last traded at $52.70, with a volume of 504 shares trading hands. The stock had previously closed at $52.55.

Fidelity Dividend ETF for Rising Rates Price Performance

The stock has a market capitalization of $601.24 million, a P/E ratio of 14.66 and a beta of 0.84. The stock’s fifty day moving average is $50.57 and its two-hundred day moving average is $48.50.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Fidelity Dividend ETF for Rising Rates by 0.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 103,019 shares of the company’s stock worth $4,971,000 after purchasing an additional 601 shares during the period. CWM LLC raised its holdings in 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 buying an additional 340 shares during the period. Tidal Investments LLC purchased a new stake in Fidelity Dividend ETF for Rising Rates during the first quarter valued at about $228,000. Raymond James & Associates lifted its stake in Fidelity Dividend ETF for Rising Rates by 0.9% during the second quarter. Raymond James & Associates now owns 39,400 shares of the company’s stock valued at $1,901,000 after buying an additional 334 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 3.0% in the second quarter. Cetera Investment Advisers now owns 26,800 shares of the company’s stock worth $1,293,000 after buying an additional 788 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.