Fidelity High Dividend ETF (NYSEARCA:FDVV) Hits New 1-Year High – Still a Buy?

Shares of Fidelity High Dividend ETF (NYSEARCA:FDVV) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $52.73 and last traded at $52.71, with a volume of 195063 shares changing hands. The stock had previously closed at $52.37.

Fidelity High Dividend ETF Stock Performance

The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 11.51 and a beta of 0.82. The firm has a 50-day moving average price of $51.17 and a two-hundred day moving average price of $49.03.

Institutional Investors Weigh In On Fidelity High Dividend ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FDVV. Darwin Wealth Management LLC purchased a new position in Fidelity High Dividend ETF during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in Fidelity High Dividend ETF during the 1st quarter worth approximately $35,000. Hantz Financial Services Inc. purchased a new position in Fidelity High Dividend ETF during the 2nd quarter worth approximately $51,000. Glass Jacobson Investment Advisors llc purchased a new position in Fidelity High Dividend ETF during the 3rd quarter worth approximately $75,000. Finally, ICA Group Wealth Management LLC grew its stake in shares of Fidelity High Dividend ETF by 105.5% in the 2nd quarter. ICA Group Wealth Management LLC now owns 3,029 shares of the company’s stock valued at $142,000 after purchasing an additional 1,555 shares during the last quarter.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.