Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 12-Month High – Should You Buy?

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) reached a new 52-week high on Wednesday . The stock traded as high as $51.84 and last traded at $51.51, with a volume of 89681 shares. The stock had previously closed at $50.98.

Fidelity High Dividend ETF Trading Up 1.3 %

The stock has a market cap of $2.98 billion, a P/E ratio of 11.51 and a beta of 0.82. The stock’s 50-day moving average is $50.37 and its 200-day moving average is $48.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FDVV. Commonwealth Equity Services LLC lifted its holdings in Fidelity High Dividend ETF by 11.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,768,581 shares of the company’s stock valued at $140,229,000 after acquiring an additional 287,984 shares during the last quarter. Osaic Holdings Inc. raised its position in Fidelity High Dividend ETF by 17.2% during the first quarter. Osaic Holdings Inc. now owns 1,163,964 shares of the company’s stock valued at $52,744,000 after acquiring an additional 170,970 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fidelity High Dividend ETF by 35.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,020,505 shares of the company’s stock valued at $47,739,000 after purchasing an additional 268,292 shares in the last quarter. Childress Capital Advisors LLC lifted its position in shares of Fidelity High Dividend ETF by 38.5% in the third quarter. Childress Capital Advisors LLC now owns 759,709 shares of the company’s stock worth $38,479,000 after buying an additional 211,267 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Fidelity High Dividend ETF by 40.1% in the 1st quarter. Kestra Advisory Services LLC now owns 618,263 shares of the company’s stock worth $28,013,000 after purchasing an additional 176,990 shares during the last quarter.

About Fidelity High Dividend ETF

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.