Fidelity High Dividend ETF (NYSEARCA:FDVV) Reaches New 52-Week High – Here’s Why

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $62.06 and last traded at $62.00, with a volume of 124477 shares. The stock had previously closed at $61.47.

Fidelity High Dividend ETF Trading Down 0.0%

The stock has a market cap of $9.60 billion, a PE ratio of 17.18 and a beta of 0.86. The company’s 50 day moving average is $59.52 and its 200-day moving average is $58.08.

Institutional Investors Weigh In On Fidelity High Dividend ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Fidelity High Dividend ETF by 6.0% in the 1st quarter. Royal Bank of Canada now owns 108,308 shares of the company’s stock worth $5,373,000 after purchasing an additional 6,174 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Fidelity High Dividend ETF in the 2nd quarter worth about $320,000. Qube Research & Technologies Ltd increased its position in shares of Fidelity High Dividend ETF by 95.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 18,761 shares of the company’s stock worth $976,000 after purchasing an additional 9,169 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Fidelity High Dividend ETF by 49.8% in the 2nd quarter. NewEdge Advisors LLC now owns 112,833 shares of the company’s stock worth $5,870,000 after purchasing an additional 37,501 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Fidelity High Dividend ETF in the 2nd quarter worth about $27,000.

Fidelity High Dividend ETF Company Profile

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.