Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) Sees Large Volume Increase – Here’s Why

Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) shares saw unusually-strong trading volume on Tuesday . Approximately 69,801 shares traded hands during mid-day trading, an increase of 261% from the previous session’s volume of 19,359 shares.The stock last traded at $50.85 and had previously closed at $51.09.

Fidelity Dividend ETF for Rising Rates Stock Performance

The firm’s 50-day simple moving average is $52.21 and its 200 day simple moving average is $52.06. The stock has a market capitalization of $539.91 million, a P/E ratio of 21.30 and a beta of 0.95.

Institutional Trading of Fidelity Dividend ETF for Rising Rates

Several institutional investors and hedge funds have recently bought and sold shares of FDRR. Darwin Wealth Management LLC acquired a new position in shares of Fidelity Dividend ETF for Rising Rates in the third quarter valued at approximately $88,000. FMR LLC grew its holdings in Fidelity Dividend ETF for Rising Rates by 16.9% in the 3rd quarter. FMR LLC now owns 67,620 shares of the company’s stock valued at $3,482,000 after buying an additional 9,759 shares in the last quarter. Flow Traders U.S. LLC lifted its holdings in shares of Fidelity Dividend ETF for Rising Rates by 254.2% during the third quarter. Flow Traders U.S. LLC now owns 49,982 shares of the company’s stock worth $2,574,000 after buying an additional 35,872 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 7.5% in the third quarter. Stifel Financial Corp now owns 12,142 shares of the company’s stock valued at $625,000 after acquiring an additional 847 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Fidelity Dividend ETF for Rising Rates by 79.8% in the third quarter. Jane Street Group LLC now owns 39,761 shares of the company’s stock valued at $2,048,000 after acquiring an additional 17,649 shares during the period.

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.