Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Strong Trading Volume – Should You Buy?

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw unusually-strong trading volume on Thursday . 75,290 shares changed hands during trading, an increase of 281% from the previous session’s volume of 19,753 shares.The stock last traded at $50.42 and had previously closed at $50.81.

Fidelity Dividend ETF for Rising Rates Stock Down 1.7 %

The stock has a market capitalization of $529.09 million, a PE ratio of 19.11 and a beta of 0.95. The firm has a 50 day moving average price of $52.09 and a 200 day moving average price of $52.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FDRR. Wealth Enhancement Advisory Services LLC purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $424,000. Cetera Investment Advisers increased its stake in shares of Fidelity Dividend ETF for Rising Rates by 11.7% in the fourth quarter. Cetera Investment Advisers now owns 32,177 shares of the company’s stock worth $1,653,000 after purchasing an additional 3,380 shares in the last quarter. Stifel Financial Corp raised its position in shares of Fidelity Dividend ETF for Rising Rates by 2.8% in the fourth quarter. Stifel Financial Corp now owns 12,477 shares of the company’s stock valued at $641,000 after purchasing an additional 335 shares during the period. MML Investors Services LLC lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 30.7% during the 4th quarter. MML Investors Services LLC now owns 25,204 shares of the company’s stock valued at $1,295,000 after buying an additional 5,922 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 1.2% during the 4th quarter. NewEdge Advisors LLC now owns 68,988 shares of the company’s stock valued at $3,545,000 after buying an additional 795 shares in the last quarter.

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.