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

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $80.79 and last traded at $80.79, with a volume of 2230 shares trading hands. The stock had previously closed at $80.30.

Fidelity Quality Factor ETF Stock Performance

The stock has a market cap of $1.41 billion, a P/E ratio of 25.46 and a beta of 0.95. The business has a 50 day simple moving average of $76.16 and a 200-day simple moving average of $76.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FQAL. Northwestern Mutual Wealth Management Co. grew its stake in shares of Fidelity Quality Factor ETF by 6,154.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after acquiring an additional 1,598,541 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Fidelity Quality Factor ETF by 33.6% during the 1st quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock worth $65,326,000 after acquiring an additional 226,425 shares during the period. Principal Securities Inc. grew its stake in shares of Fidelity Quality Factor ETF by 3,701.5% during the 4th quarter. Principal Securities Inc. now owns 109,218 shares of the company’s stock worth $8,256,000 after acquiring an additional 106,345 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Fidelity Quality Factor ETF by 5.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,156,911 shares of the company’s stock worth $86,444,000 after acquiring an additional 55,097 shares during the period. Finally, Raymond James Financial Inc. grew its stake in shares of Fidelity Quality Factor ETF by 11,469.7% during the 3rd quarter. Raymond James Financial Inc. now owns 55,303 shares of the company’s stock worth $4,132,000 after acquiring an additional 54,825 shares during the period.

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.