Commonwealth Equity Services LLC Sells 21,235 Shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR)

Commonwealth Equity Services LLC cut its position in shares of Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 345,484 shares of the company’s stock after selling 21,235 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fidelity Dividend ETF for Rising Rates were worth $16,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDRR. CWM LLC increased its position in shares of Fidelity Dividend ETF for Rising Rates by 9.8% during the second quarter. CWM LLC now owns 3,802 shares of the company’s stock valued at $183,000 after purchasing an additional 340 shares during the period. Csenge Advisory Group acquired a new position in Fidelity Dividend ETF for Rising Rates in the second quarter worth about $209,000. Tidal Investments LLC bought a new stake in shares of Fidelity Dividend ETF for Rising Rates in the 1st quarter valued at approximately $228,000. Principal Securities Inc. acquired a new stake in Fidelity Dividend ETF for Rising Rates in the 4th quarter valued at $380,000. Finally, Cetera Advisors LLC acquired a new position in Fidelity Dividend ETF for Rising Rates during the first quarter worth $919,000.

Fidelity Dividend ETF for Rising Rates Stock Performance

Shares of NYSEARCA:FDRR opened at $49.85 on Wednesday. The company has a market capitalization of $568.29 million, a PE ratio of 14.66 and a beta of 0.84. The company’s fifty day moving average is $49.23 and its 200-day moving average is $47.29. Fidelity Dividend ETF for Rising Rates has a 52 week low of $38.14 and a 52 week high of $51.13.

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.