Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 52-Week High – Time to Buy?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares reached a new 52-week high on Wednesday . The stock traded as high as $53.96 and last traded at $53.89, with a volume of 7183 shares. The stock had previously closed at $53.80.

Fidelity Dividend ETF for Rising Rates Price Performance

The company’s fifty day simple moving average is $52.30 and its two-hundred day simple moving average is $51.73. The stock has a market cap of $606.48 million, a price-to-earnings ratio of 14.66 and a beta of 0.84.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers raised its holdings 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 valued at $1,653,000 after purchasing an additional 3,380 shares during the last quarter. Stifel Financial Corp raised its holdings 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 last quarter. MML Investors Services LLC raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 30.7% in the fourth quarter. MML Investors Services LLC now owns 25,204 shares of the company’s stock valued at $1,295,000 after purchasing an additional 5,922 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Fidelity Dividend ETF for Rising Rates by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 68,988 shares of the company’s stock valued at $3,545,000 after purchasing an additional 795 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at about $3,752,000.

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.