Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 11,264 shares, a decline of 47.4% from the July 30th total of 21,422 shares. Based on an average daily volume of 16,102 shares, the short-interest ratio is currently 0.7 days. Approximately 0.1% of the shares of the company are sold short.
Institutional Investors Weigh In On Fidelity Dividend ETF for Rising Rates
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RCS Financial Planning LLC purchased a new stake in shares of Fidelity Dividend ETF for Rising Rates during the first quarter worth about $810,000. Ameritas Advisory Services LLC boosted its stake in Fidelity Dividend ETF for Rising Rates by 70,725.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 742,252 shares of the company’s stock worth $45,292,000 after purchasing an additional 741,204 shares during the period. Midwest Financial Network LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 60.6% during the 2nd quarter. Midwest Financial Network LLC now owns 20,374 shares of the company’s stock valued at $1,323,000 after buying an additional 7,686 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 32.0% during the 1st quarter. Kestra Advisory Services LLC now owns 66,941 shares of the company’s stock valued at $3,936,000 after buying an additional 16,217 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Fidelity Dividend ETF for Rising Rates by 456.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 48,393 shares of the company’s stock valued at $2,953,000 after buying an additional 39,697 shares during the last quarter.
Fidelity Dividend ETF for Rising Rates Stock Performance
Shares of NYSEARCA FDRR traded up $0.06 during trading on Friday, hitting $69.61. The company had a trading volume of 9,869 shares, compared to its average volume of 18,142. The stock has a 50 day simple moving average of $67.58 and a 200 day simple moving average of $64.40. Fidelity Dividend ETF for Rising Rates has a 12 month low of $56.52 and a 12 month high of $70.28. The firm has a market capitalization of $758.75 million, a P/E ratio of 17.77 and a beta of 0.88.
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.
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