Fidelity High Dividend ETF (NYSEARCA:FDVV) Hits New 1-Year High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.04 and last traded at $57.0150, with a volume of 451245 shares traded. The stock had previously closed at $56.72.

Fidelity High Dividend ETF Price Performance

The firm has a fifty day simple moving average of $55.87 and a 200 day simple moving average of $54.08. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 17.18 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FDVV. Ballew Advisors Inc raised its holdings in shares of Fidelity High Dividend ETF by 0.7% in the third quarter. Ballew Advisors Inc now owns 29,458 shares of the company’s stock valued at $1,632,000 after buying an additional 193 shares during the last quarter. Assetmark Inc. grew its holdings in Fidelity High Dividend ETF by 80.5% during the 2nd quarter. Assetmark Inc. now owns 473 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the last quarter. Melfa Wealth Management Inc. increased its position in Fidelity High Dividend ETF by 1.1% in the 3rd quarter. Melfa Wealth Management Inc. now owns 19,141 shares of the company’s stock valued at $1,066,000 after acquiring an additional 212 shares in the last quarter. Archer Investment Corp raised its stake in shares of Fidelity High Dividend ETF by 7.2% in the third quarter. Archer Investment Corp now owns 3,219 shares of the company’s stock worth $179,000 after acquiring an additional 217 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Fidelity High Dividend ETF by 3.9% during the first quarter. Nations Financial Group Inc. IA ADV now owns 6,102 shares of the company’s stock worth $303,000 after purchasing an additional 230 shares in the last quarter.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.