Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sets New 1-Year High – Should You Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.02 and last traded at $40.94, with a volume of 51702 shares trading hands. The stock had previously closed at $40.57.

Fidelity Enhanced Mid Cap ETF Price Performance

The company has a market capitalization of $7.57 billion, a P/E ratio of 20.20 and a beta of 0.91. The stock’s 50 day moving average is $39.98 and its 200-day moving average is $38.28.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Several large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Fidelity Enhanced Mid Cap ETF by 170.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,829,902 shares of the company’s stock worth $685,032,000 after acquiring an additional 11,869,760 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock valued at $79,741,000 after purchasing an additional 2,524,924 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Fidelity Enhanced Mid Cap ETF during the 4th quarter valued at $84,551,000. Ameriprise Financial Inc. lifted its holdings in Fidelity Enhanced Mid Cap ETF by 8,528.5% in the third quarter. Ameriprise Financial Inc. now owns 2,022,442 shares of the company’s stock valued at $73,118,000 after acquiring an additional 1,999,003 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Fidelity Enhanced Mid Cap ETF by 90.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,432,732 shares of the company’s stock valued at $124,883,000 after purchasing an additional 1,627,937 shares during 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.