Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Hits New 1-Year High – What’s Next?

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $67.82 and last traded at $67.8090, with a volume of 4198 shares. The stock had previously closed at $67.29.

Fidelity Dividend ETF for Rising Rates Trading Up 0.6%

The company’s 50 day moving average price is $66.11 and its two-hundred day moving average price is $63.24. The firm has a market cap of $734.32 million, a PE ratio of 17.77 and a beta of 0.88.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors have recently made changes to their positions in FDRR. Jane Street Group LLC lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 98.8% in the first quarter. Jane Street Group LLC now owns 12,715 shares of the company’s stock worth $635,000 after buying an additional 6,319 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Fidelity Dividend ETF for Rising Rates by 379.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 24,531 shares of the company’s stock valued at $1,330,000 after acquiring an additional 19,412 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Fidelity Dividend ETF for Rising Rates in the 2nd quarter valued at $94,000. Bank of America Corp DE lifted its stake in Fidelity Dividend ETF for Rising Rates by 2.6% in the 2nd quarter. Bank of America Corp DE now owns 228,532 shares of the company’s stock worth $12,393,000 after purchasing an additional 5,796 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 5.4% during the 2nd quarter. MML Investors Services LLC now owns 20,375 shares of the company’s stock valued at $1,105,000 after purchasing an additional 1,043 shares during the last quarter.

About Fidelity Dividend ETF for Rising Rates

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund that is based on the Fidelity Dividend for Rising Rates index. The fund tracks an index of large- and mid-cap companies in developed nations that exhibit strong dividend characteristics and have a positive correlation to increasing 10-year US Treasury yields. FDRR was launched on Sep 12, 2016 and is managed by Fidelity.