Fidelity High Dividend ETF (NYSEARCA:FDVV) Sets New 1-Year High – Should You Buy?

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) reached a new 52-week high during trading on Monday . The stock traded as high as $63.00 and last traded at $62.88, with a volume of 61088 shares changing hands. The stock had previously closed at $62.40.

Fidelity High Dividend ETF Price Performance

The stock has a 50 day moving average price of $61.27 and a 200-day moving average price of $59.04. The stock has a market capitalization of $10.24 billion, a P/E ratio of 17.18 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FDVV. LPL Financial LLC grew its holdings in shares of Fidelity High Dividend ETF by 36.8% during the 4th quarter. LPL Financial LLC now owns 6,160,630 shares of the company’s stock worth $349,246,000 after acquiring an additional 1,655,768 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Fidelity High Dividend ETF by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,034,654 shares of the company’s stock valued at $172,035,000 after purchasing an additional 75,387 shares during the period. Retirement Planning Group LLC boosted its position in shares of Fidelity High Dividend ETF by 9.4% during the first quarter. Retirement Planning Group LLC now owns 2,532,542 shares of the company’s stock valued at $139,898,000 after purchasing an additional 217,772 shares in the last quarter. Morgan Stanley boosted its position in shares of Fidelity High Dividend ETF by 7.6% during the fourth quarter. Morgan Stanley now owns 2,520,014 shares of the company’s stock valued at $142,860,000 after purchasing an additional 177,157 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Fidelity High Dividend ETF by 4.6% during the first quarter. Bank of America Corp DE now owns 2,367,217 shares of the company’s stock valued at $130,765,000 after purchasing an additional 104,028 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.