Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Reaches New 52-Week High – Should You Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $36.63 and last traded at $36.6250, with a volume of 57362 shares trading hands. The stock had previously closed at $36.50.

Fidelity Enhanced Mid Cap ETF Trading Up 0.2%

The stock has a market cap of $4.15 billion, a P/E ratio of 20.20 and a beta of 1.13. The company has a 50 day simple moving average of $35.79 and a 200 day simple moving average of $35.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC acquired a new stake in shares of Fidelity Enhanced Mid Cap ETF in the 2nd quarter valued at $31,000. AE Wealth Management LLC boosted its stake in Fidelity Enhanced Mid Cap ETF by 632.9% in the third quarter. AE Wealth Management LLC now owns 1,026 shares of the company’s stock valued at $37,000 after buying an additional 886 shares in the last quarter. Holos Integrated Wealth LLC bought a new position in Fidelity Enhanced Mid Cap ETF in the second quarter valued at about $42,000. Atlantic Union Bankshares Corp acquired a new position in Fidelity Enhanced Mid Cap ETF during the second quarter worth about $44,000. Finally, Clear Investment Research LLC raised its stake in Fidelity Enhanced Mid Cap ETF by 209.6% during the third quarter. Clear Investment Research LLC now owns 1,288 shares of the company’s stock worth $47,000 after acquiring an additional 872 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.