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

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $70.57 and last traded at $70.6490, with a volume of 5448 shares trading hands. The stock had previously closed at $69.82.

Fidelity Dividend ETF for Rising Rates Stock Up 1.2%

The stock has a 50 day moving average price of $67.85 and a 200 day moving average price of $64.55. The stock has a market capitalization of $770.06 million, a price-to-earnings ratio of 17.77 and a beta of 0.88.

Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates

Several hedge funds have recently added to or reduced their stakes in FDRR. O Shaughnessy Asset Management LLC bought a new stake in Fidelity Dividend ETF for Rising Rates during the 4th quarter worth approximately $25,000. Birchwood Financial Partners Inc. bought a new position in shares of Fidelity Dividend ETF for Rising Rates during the fourth quarter valued at $26,000. Fifth Third Bancorp acquired a new position in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth $53,000. MWA Asset Management acquired a new position in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth $54,000. Finally, SHP Wealth Management bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter worth $61,000.

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.