Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Volume Increase – Still a Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares saw an uptick in trading volume on Tuesday . 69,801 shares changed hands during trading, an increase of 261% from the previous session’s volume of 19,359 shares.The stock last traded at $50.85 and had previously closed at $51.09.

Fidelity Dividend ETF for Rising Rates Stock Performance

The stock has a market capitalization of $539.91 million, a price-to-earnings ratio of 21.30 and a beta of 0.95. The company has a fifty day simple moving average of $52.21 and a two-hundred day simple moving average of $52.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its stake in shares of Fidelity Dividend ETF for Rising Rates by 46.0% in the 4th quarter. AdvisorNet Financial Inc now owns 1,464 shares of the company’s stock valued at $75,000 after purchasing an additional 461 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at $292,000. Jane Street Group LLC boosted its position in Fidelity Dividend ETF for Rising Rates by 79.8% during the third quarter. Jane Street Group LLC now owns 39,761 shares of the company’s stock valued at $2,048,000 after acquiring an additional 17,649 shares during the last quarter. FMR LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 16.9% during the 3rd quarter. FMR LLC now owns 67,620 shares of the company’s stock worth $3,482,000 after acquiring an additional 9,759 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Fidelity Dividend ETF for Rising Rates by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 12,142 shares of the company’s stock worth $625,000 after acquiring an additional 847 shares in the last quarter.

Fidelity Dividend ETF for Rising Rates Company Profile

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.