Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sets New 1-Year High – Still a Buy?

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $49.50 and last traded at $49.50, with a volume of 151 shares changing hands. The stock had previously closed at $48.44.

Fidelity Enhanced Small Cap ETF Trading Down 0.8%

The firm’s fifty day moving average price is $46.84 and its 200-day moving average price is $42.91. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 16.78 and a beta of 1.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors bought a new position in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at $532,000. Quotient Wealth Partners LLC bought a new stake in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at approximately $66,765,000. Kestra Private Wealth Services LLC raised its position in shares of Fidelity Enhanced Small Cap ETF by 203.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 32,190 shares of the company’s stock valued at $1,216,000 after purchasing an additional 21,567 shares during the period. tru Independence LLC increased its position in Fidelity Enhanced Small Cap ETF by 33.0% during the 4th quarter. tru Independence LLC now owns 125,563 shares of the company’s stock worth $4,744,000 after buying an additional 31,138 shares during the period. Finally, LPL Financial LLC raised its holdings in Fidelity Enhanced Small Cap ETF by 66.6% in the 4th quarter. LPL Financial LLC now owns 4,286,386 shares of the company’s stock valued at $161,940,000 after acquiring an additional 1,713,064 shares in the last quarter.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.