Envestnet Asset Management Inc. Boosts Stake in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)

Envestnet Asset Management Inc. boosted its stake in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR – Get Rating) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,063 shares of the company’s stock after purchasing an additional 3,674 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Fidelity Dividend ETF for Rising Rates worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Element Wealth LLC grew its stake in shares of Fidelity Dividend ETF for Rising Rates by 113.6% during the third quarter. Element Wealth LLC now owns 2,446 shares of the company’s stock valued at $87,000 after buying an additional 1,301 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the fourth quarter valued at about $200,000. Citadel Advisors LLC purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the second quarter valued at about $230,000. Cetera Investment Advisers purchased a new position in shares of Fidelity Dividend ETF for Rising Rates in the first quarter valued at about $296,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter worth approximately $293,000.

Fidelity Dividend ETF for Rising Rates Stock Performance

NYSEARCA FDRR opened at $39.61 on Friday. The stock has a 50 day simple moving average of $40.36 and a two-hundred day simple moving average of $40.59. The stock has a market cap of $542.66 million, a P/E ratio of 14.53 and a beta of 0.95. Fidelity Dividend ETF for Rising Rates has a fifty-two week low of $35.13 and a fifty-two week high of $42.81.

Fidelity Dividend ETF for Rising Rates Company Profile

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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.