Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sets New 52-Week High – Still a Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) hit a new 52-week high during trading on Tuesday . The company traded as high as $48.10 and last traded at $48.09, with a volume of 94300 shares trading hands. The stock had previously closed at $47.86.

Fidelity Enhanced Small Cap ETF Price Performance

The company has a market cap of $6.14 billion, a price-to-earnings ratio of 16.78 and a beta of 1.29. The business’s 50-day simple moving average is $45.07 and its 200-day simple moving average is $41.35.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its position in shares of Fidelity Enhanced Small Cap ETF by 6.5% during the 1st quarter. NewEdge Advisors LLC now owns 105,938 shares of the company’s stock worth $4,026,000 after purchasing an additional 6,440 shares during the last quarter. Verus Capital Partners LLC grew its holdings in Fidelity Enhanced Small Cap ETF by 19.4% during the 1st quarter. Verus Capital Partners LLC now owns 7,918 shares of the company’s stock valued at $301,000 after buying an additional 1,286 shares during the last quarter. Bank of America Corp DE grew its holdings in Fidelity Enhanced Small Cap ETF by 284.6% during the 1st quarter. Bank of America Corp DE now owns 871,856 shares of the company’s stock valued at $33,131,000 after buying an additional 645,168 shares during the last quarter. Royal Bank of Canada grew its holdings in Fidelity Enhanced Small Cap ETF by 30.7% during the 1st quarter. Royal Bank of Canada now owns 1,220,056 shares of the company’s stock valued at $46,363,000 after buying an additional 286,625 shares during the last quarter. Finally, Stadion Money Management LLC purchased a new position in Fidelity Enhanced Small Cap ETF during the first quarter worth $15,678,000.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.