Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sets New 1-Year High – Here’s Why

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ)’s stock price hit a new 52-week high during mid-day trading on Friday. The company traded as high as $107.65 and last traded at $107.6040, with a volume of 126554 shares traded. The stock had previously closed at $105.90.

Fidelity NASDAQ Composite Index ETF Stock Up 1.1%

The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 28.20 and a beta of 1.22. The company’s 50-day simple moving average is $103.60 and its 200 day simple moving average is $100.07.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 18th were issued a dividend of $0.1120 per share. This represents a $0.45 annualized dividend and a yield of 0.4%. This is a drop from Fidelity NASDAQ Composite Index ETF’s previous quarterly dividend of $0.1430. The ex-dividend date was Friday, September 18th.

Institutional Investors Weigh In On Fidelity NASDAQ Composite Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Keenan LLC acquired a new stake in Fidelity NASDAQ Composite Index ETF in the 4th quarter worth $6,082,000. Secure Asset Management LLC bought a new stake in shares of Fidelity NASDAQ Composite Index ETF in the 2nd quarter valued at approximately $3,823,000. Commonwealth Financial Services LLC grew its position in Fidelity NASDAQ Composite Index ETF by 6.8% in the first quarter. Commonwealth Financial Services LLC now owns 145,768 shares of the company’s stock valued at $12,377,000 after acquiring an additional 9,330 shares during the period. Fortune Financial Group Inc. bought a new stake in shares of Fidelity NASDAQ Composite Index ETF in the 4th quarter worth about $1,376,000. Finally, Prasad Wealth Partners LLC grew its stake in Fidelity NASDAQ Composite Index ETF by 2.3% during the first quarter. Prasad Wealth Partners LLC now owns 253,916 shares of the company’s stock worth $21,560,000 after buying an additional 5,730 shares during the last quarter.

Fidelity NASDAQ Composite Index ETF Company Profile

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.