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

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $70.57 and last traded at $70.6490, with a volume of 5448 shares changing hands. The stock had previously closed at $69.82.

Fidelity Dividend ETF for Rising Rates Price Performance

The firm has a 50-day moving average price of $67.85 and a 200 day moving average price of $64.55. The company has a market cap of $770.06 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FDRR. O Shaughnessy Asset Management LLC bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at about $25,000. Birchwood Financial Partners Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth about $26,000. Fifth Third Bancorp acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 1st quarter worth about $53,000. MWA Asset Management bought a new stake in Fidelity Dividend ETF for Rising Rates in the 1st quarter valued at about $54,000. Finally, SHP Wealth Management acquired a new position in shares of Fidelity Dividend ETF for Rising Rates during the 4th quarter worth approximately $61,000.

Fidelity Dividend ETF for Rising Rates Company Profile

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.