Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Significant Decline in Short Interest

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 11,264 shares, a decline of 47.4% from the July 30th total of 21,422 shares. Based on an average trading volume of 16,102 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company’s shares are sold short.

Fidelity Dividend ETF for Rising Rates Price Performance

Shares of FDRR stock opened at $69.41 on Tuesday. The company has a market cap of $756.57 million, a PE ratio of 17.77 and a beta of 0.88. Fidelity Dividend ETF for Rising Rates has a 1 year low of $56.52 and a 1 year high of $70.28. The stock’s 50 day simple moving average is $67.67 and its two-hundred day simple moving average is $64.45.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new position in Fidelity Dividend ETF for Rising Rates during the fourth quarter worth $25,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at $26,000. Fifth Third Bancorp bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 1st quarter worth about $53,000. MWA Asset Management bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 1st quarter worth about $54,000. Finally, SHP Wealth Management purchased a new position in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter worth about $61,000.

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.