Fidelity Quality Factor ETF (NYSEARCA:FQAL) Reaches New 12-Month High – Still a Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) hit a new 52-week high on Monday . The stock traded as high as $77.48 and last traded at $77.4390, with a volume of 24164 shares traded. The stock had previously closed at $77.03.

Fidelity Quality Factor ETF Stock Performance

The stock’s fifty day moving average is $76.21 and its two-hundred day moving average is $74.56. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 25.46 and a beta of 0.97.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Hedge funds have recently made changes to their positions in the business. J.W. Cole Advisors Inc. bought a new stake in shares of Fidelity Quality Factor ETF during the second quarter valued at about $539,000. Nwam LLC acquired a new position in Fidelity Quality Factor ETF during the 2nd quarter valued at about $236,000. PKS Advisory Services LLC raised its position in shares of Fidelity Quality Factor ETF by 5.1% during the 2nd quarter. PKS Advisory Services LLC now owns 19,979 shares of the company’s stock worth $1,391,000 after buying an additional 977 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Fidelity Quality Factor ETF by 9.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,879 shares of the company’s stock worth $688,000 after acquiring an additional 831 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Fidelity Quality Factor ETF by 28.4% in the second quarter. Foundations Investment Advisors LLC now owns 17,857 shares of the company’s stock valued at $1,243,000 after acquiring an additional 3,952 shares in the last quarter.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.