Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sets New 52-Week High at $49.09

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $49.09 and last traded at $49.09, with a volume of 3698 shares. The stock had previously closed at $48.90.

Fidelity Dividend ETF for Rising Rates Trading Up 0.3 %

The firm has a market cap of $559.06 million, a price-to-earnings ratio of 14.66 and a beta of 0.84. The company has a 50 day moving average of $46.47 and a 200 day moving average of $45.20.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Large investors have recently added to or reduced their stakes in the company. Element Wealth LLC increased its holdings in Fidelity Dividend ETF for Rising Rates by 11.9% during the 4th quarter. Element Wealth LLC now owns 2,599 shares of the company’s stock worth $114,000 after purchasing an additional 277 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Fidelity Dividend ETF for Rising Rates during the third quarter worth about $134,000. Tidal Investments LLC bought a new position in Fidelity Dividend ETF for Rising Rates during the first quarter worth about $228,000. Stewart & Patten Co. LLC bought a new position in Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $216,000. Finally, Principal Securities Inc. bought a new position in Fidelity Dividend ETF for Rising Rates during the fourth quarter worth about $380,000.

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.