Fidelity Value Factor ETF (NYSEARCA:FVAL) Reaches New 1-Year High – Time to Buy?

Shares of Fidelity Value Factor ETF (NYSEARCA:FVAL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.83 and last traded at $62.83, with a volume of 4717 shares trading hands. The stock had previously closed at $61.24.

Fidelity Value Factor ETF Price Performance

The firm’s 50 day moving average price is $60.45 and its 200 day moving average price is $58.44. The stock has a market capitalization of $884.57 million, a P/E ratio of 15.28 and a beta of 0.93.

Hedge Funds Weigh In On Fidelity Value Factor ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FVAL. Cullen Frost Bankers Inc. purchased a new position in shares of Fidelity Value Factor ETF during the 2nd quarter worth approximately $32,000. Comerica Bank boosted its position in shares of Fidelity Value Factor ETF by 33.7% during the first quarter. Comerica Bank now owns 2,182 shares of the company’s stock valued at $125,000 after purchasing an additional 550 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Fidelity Value Factor ETF by 8.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,336 shares of the company’s stock worth $192,000 after purchasing an additional 267 shares during the period. First Horizon Advisors Inc. purchased a new position in Fidelity Value Factor ETF during the third quarter valued at $214,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Fidelity Value Factor ETF by 16.7% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,105 shares of the company’s stock valued at $236,000 after buying an additional 586 shares during the period.

About Fidelity Value Factor ETF

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.