Fidelity Quality Factor ETF (NYSEARCA:FQAL) Reaches New 1-Year High – Still a Buy?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) hit a new 52-week high during trading on Wednesday . The company traded as high as $77.58 and last traded at $77.54, with a volume of 13756 shares. The stock had previously closed at $76.87.

Fidelity Quality Factor ETF Stock Up 0.9%

The firm has a 50 day moving average price of $76.39 and a two-hundred day moving average price of $74.98. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 25.46 and a beta of 0.97.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of Fidelity Quality Factor ETF by 0.4% during the 2nd quarter. Allworth Financial LP now owns 38,316 shares of the company’s stock valued at $2,668,000 after buying an additional 141 shares during the last quarter. Spire Wealth Management raised its holdings in Fidelity Quality Factor ETF by 22.4% in the third quarter. Spire Wealth Management now owns 808 shares of the company’s stock valued at $60,000 after acquiring an additional 148 shares in the last quarter. DecisionMap Wealth Management LLC raised its holdings in Fidelity Quality Factor ETF by 5.4% in the fourth quarter. DecisionMap Wealth Management LLC now owns 2,962 shares of the company’s stock valued at $224,000 after acquiring an additional 151 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Fidelity Quality Factor ETF by 23.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 168 shares during the last quarter. Finally, Valmark Advisers Inc. grew its holdings in Fidelity Quality Factor ETF by 1.1% during the 3rd quarter. Valmark Advisers Inc. now owns 16,454 shares of the company’s stock worth $1,229,000 after acquiring an additional 171 shares in 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.