Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 52-Week High – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.11 and last traded at $69.05, with a volume of 10821 shares trading hands. The stock had previously closed at $68.94.

Fidelity Quality Factor ETF Stock Down 1.4 %

The company has a market cap of $1.06 billion, a PE ratio of 20.41 and a beta of 0.95. The stock’s 50 day moving average is $67.01 and its 200-day moving average is $65.67.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers raised its stake in shares of Fidelity Quality Factor ETF by 11.2% in the fourth quarter. Cetera Investment Advisers now owns 76,807 shares of the company’s stock valued at $5,025,000 after acquiring an additional 7,713 shares during the period. Jane Street Group LLC purchased a new stake in shares of Fidelity Quality Factor ETF in the fourth quarter valued at $685,000. First Trust Advisors LP purchased a new position in Fidelity Quality Factor ETF in the 4th quarter worth about $1,025,000. Madden Advisory Services Inc. increased its stake in Fidelity Quality Factor ETF by 2.3% in the 4th quarter. Madden Advisory Services Inc. now owns 25,963 shares of the company’s stock worth $1,699,000 after buying an additional 584 shares during the period. Finally, Mariner LLC increased its stake in Fidelity Quality Factor ETF by 1.7% in the 4th quarter. Mariner LLC now owns 15,671 shares of the company’s stock worth $1,025,000 after buying an additional 258 shares during the period.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.