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

Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $64.13 and last traded at $64.13, with a volume of 18877 shares. The stock had previously closed at $63.29.

Fidelity Dividend ETF for Rising Rates Stock Performance

The stock has a fifty day simple moving average of $60.93 and a 200-day simple moving average of $60.95. The stock has a market cap of $699.02 million, a P/E ratio of 17.77 and a beta of 0.87.

Fidelity Dividend ETF for Rising Rates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Friday, March 20th were issued a dividend of $0.35 per share. This is a boost from Fidelity Dividend ETF for Rising Rates’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, March 20th. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%.

Hedge Funds Weigh In On Fidelity Dividend ETF for Rising Rates

Large investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 70,725.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock valued at $45,292,000 after acquiring an additional 741,204 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 30.1% in the 4th quarter. LPL Financial LLC now owns 347,319 shares of the company’s stock valued at $21,193,000 after acquiring an additional 80,360 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $18,951,000. Bank of America Corp DE grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 1.2% in the 3rd quarter. Bank of America Corp DE now owns 231,306 shares of the company’s stock valued at $13,559,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Fidelity Dividend ETF for Rising Rates by 1.3% in the 3rd quarter. Private Advisor Group LLC now owns 179,052 shares of the company’s stock valued at $10,496,000 after acquiring an additional 2,263 shares in the last quarter.

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.