Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sets New 12-Month Low – Here’s Why

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price reached a new 52-week low on Friday . The company traded as low as $28.20 and last traded at $28.58, with a volume of 217792 shares. The stock had previously closed at $30.16.

Fidelity Enhanced Mid Cap ETF Stock Performance

The company’s 50 day simple moving average is $32.90 and its 200-day simple moving average is $33.18. The firm has a market capitalization of $1.62 billion, a PE ratio of 19.77 and a beta of 0.93.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Institutional investors have recently added to or reduced their stakes in the business. Capital Analysts LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF in the 4th quarter worth $28,000. Geneos Wealth Management Inc. purchased a new position in Fidelity Enhanced Mid Cap ETF in the fourth quarter worth $70,000. Comerica Bank purchased a new position in Fidelity Enhanced Mid Cap ETF in the fourth quarter worth $88,000. Harbour Investments Inc. increased its stake in Fidelity Enhanced Mid Cap ETF by 34.3% in the fourth quarter. Harbour Investments Inc. now owns 2,812 shares of the company’s stock valued at $92,000 after acquiring an additional 718 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Fidelity Enhanced Mid Cap ETF by 94.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,485 shares of the company’s stock valued at $149,000 after purchasing an additional 2,175 shares in the last quarter.

Fidelity Enhanced Mid Cap ETF Company Profile

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.