Fidelity High Dividend ETF (NYSEARCA:FDVV) Hits New 1-Year High – Should You Buy?

Fidelity High Dividend ETF (NYSEARCA:FDVV)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $57.39 and last traded at $57.25, with a volume of 723821 shares changing hands. The stock had previously closed at $56.88.

Fidelity High Dividend ETF Stock Down 0.7%

The stock has a fifty day moving average of $56.09 and a 200-day moving average of $54.42. The firm has a market capitalization of $7.49 billion, a P/E ratio of 17.18 and a beta of 0.92.

Hedge Funds Weigh In On Fidelity High Dividend ETF

A number of large investors have recently modified their holdings of FDVV. Allworth Financial LP increased its holdings in shares of Fidelity High Dividend ETF by 5.6% in the third quarter. Allworth Financial LP now owns 578,911 shares of the company’s stock valued at $32,251,000 after purchasing an additional 30,920 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Fidelity High Dividend ETF by 8.7% in the 3rd quarter. IFP Advisors Inc now owns 175,962 shares of the company’s stock valued at $9,803,000 after buying an additional 14,125 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fidelity High Dividend ETF by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 1,044,083 shares of the company’s stock worth $58,166,000 after acquiring an additional 108,544 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Fidelity High Dividend ETF by 4.3% during the third quarter. Centaurus Financial Inc. now owns 17,065 shares of the company’s stock worth $951,000 after acquiring an additional 698 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Fidelity High Dividend ETF by 87.9% during the third quarter. Sunbelt Securities Inc. now owns 31,825 shares of the company’s stock valued at $1,773,000 after acquiring an additional 14,892 shares during the period.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.