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

Envestnet Asset Management Inc. reduced its position in Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,678 shares of the company’s stock after selling 317 shares during the period. Envestnet Asset Management Inc.’s holdings in Fidelity Dividend ETF for Rising Rates were worth $1,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC increased its position in Fidelity Dividend ETF for Rising Rates by 18.7% during the 4th quarter. Ameritas Advisory Services LLC now owns 987,768 shares of the company’s stock valued at $50,751,000 after purchasing an additional 155,523 shares during the period. Commonwealth Equity Services LLC increased its position in Fidelity Dividend ETF for Rising Rates by 2.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 223,225 shares of the company’s stock valued at $11,469,000 after purchasing an additional 4,328 shares during the period. LPL Financial LLC increased its position in Fidelity Dividend ETF for Rising Rates by 4.9% during the 4th quarter. LPL Financial LLC now owns 174,960 shares of the company’s stock valued at $8,989,000 after purchasing an additional 8,157 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $3,752,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at about $2,192,000.

Fidelity Dividend ETF for Rising Rates Stock Performance

NYSEARCA:FDRR opened at $48.36 on Monday. Fidelity Dividend ETF for Rising Rates has a fifty-two week low of $43.06 and a fifty-two week high of $54.08. The stock has a market capitalization of $515.03 million, a P/E ratio of 17.76 and a beta of 0.91. The company’s 50-day simple moving average is $49.61 and its 200-day simple moving average is $51.49.

Fidelity Dividend ETF for Rising Rates Company Profile

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.