Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Reaches New 1-Year High – Here’s What Happened

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

Fidelity Dividend ETF for Rising Rates Price Performance

The stock’s fifty day moving average price is $52.24 and its 200-day moving average price is $51.66. The firm has a market cap of $615.49 million, a price-to-earnings ratio of 14.66 and a beta of 0.84.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several large investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its position in Fidelity Dividend ETF for Rising Rates by 5.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,058 shares of the company’s stock worth $311,000 after acquiring an additional 319 shares in the last quarter. Stifel Financial Corp lifted its stake 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 worth $641,000 after buying an additional 335 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 46.0% in the fourth quarter. AdvisorNet Financial Inc now owns 1,464 shares of the company’s stock worth $75,000 after buying an additional 461 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of Fidelity Dividend ETF for Rising Rates by 4.5% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 16,502 shares of the company’s stock worth $848,000 after buying an additional 714 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake 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 worth $3,545,000 after buying an additional 795 shares during 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.