Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 52-Week High – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s share price reached a new 52-week high on Thursday . The company traded as high as $76.37 and last traded at $76.3950, with a volume of 24438 shares traded. The stock had previously closed at $76.03.

Fidelity Quality Factor ETF Stock Performance

The company has a 50 day moving average of $74.83 and a two-hundred day moving average of $72.28. The stock has a market capitalization of $1.16 billion, a PE ratio of 25.46 and a beta of 0.97.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Several institutional investors and hedge funds have recently made changes to their positions in FQAL. LPL Financial LLC boosted its position in Fidelity Quality Factor ETF by 17.7% in the first quarter. LPL Financial LLC now owns 63,577 shares of the company’s stock valued at $4,079,000 after buying an additional 9,566 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Fidelity Quality Factor ETF by 6.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the company’s stock valued at $178,000 after acquiring an additional 158 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Fidelity Quality Factor ETF by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 555,932 shares of the company’s stock worth $35,669,000 after acquiring an additional 15,054 shares during the period. Clarity Asset Management Inc. raised its holdings in shares of Fidelity Quality Factor ETF by 99.6% during the first quarter. Clarity Asset Management Inc. now owns 1,056 shares of the company’s stock worth $68,000 after purchasing an additional 527 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Fidelity Quality Factor ETF by 4.4% in the first quarter. NewEdge Advisors LLC now owns 26,270 shares of the company’s stock valued at $1,685,000 after purchasing an additional 1,101 shares during the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.