Fidelity Quality Factor ETF (NYSEARCA:FQAL) Hits New 1-Year High – Here’s Why

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $79.70 and last traded at $79.34, with a volume of 36530 shares. The stock had previously closed at $79.36.

Fidelity Quality Factor ETF Price Performance

The business has a fifty day moving average of $75.70 and a 200-day moving average of $75.83. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FQAL. Northwestern Mutual Wealth Management Co. increased its stake in Fidelity Quality Factor ETF by 6,154.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after purchasing an additional 1,598,541 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Fidelity Quality Factor ETF by 5.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,156,911 shares of the company’s stock worth $86,444,000 after purchasing an additional 55,097 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Fidelity Quality Factor ETF by 33.6% in the 1st quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock worth $65,326,000 after purchasing an additional 226,425 shares in the last quarter. High Probability Advisors LLC increased its stake in Fidelity Quality Factor ETF by 2.0% in the 4th quarter. High Probability Advisors LLC now owns 309,369 shares of the company’s stock worth $23,385,000 after purchasing an additional 6,021 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Fidelity Quality Factor ETF by 0.7% in the 4th quarter. JPMorgan Chase & Co. now owns 247,976 shares of the company’s stock worth $18,745,000 after purchasing an additional 1,688 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.