Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sets New 52-Week High – What’s Next?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $77.10 and last traded at $77.04, with a volume of 22958 shares trading hands. The stock had previously closed at $76.84.

Fidelity Quality Factor ETF Stock Up 0.3%

The firm’s 50-day moving average price is $75.43 and its 200 day moving average price is $73.65. The firm has a market cap of $1.17 billion, a P/E ratio of 25.46 and a beta of 0.97.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

A number of hedge funds have recently made changes to their positions in FQAL. Envestnet Asset Management Inc. grew its holdings in Fidelity Quality Factor ETF by 5.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,156,911 shares of the company’s stock worth $86,444,000 after buying an additional 55,097 shares in the last quarter. Orgel Wealth Management LLC boosted its position in Fidelity Quality Factor ETF by 0.7% during the 2nd quarter. Orgel Wealth Management LLC now owns 951,038 shares of the company’s stock worth $66,221,000 after acquiring an additional 6,648 shares during the period. High Probability Advisors LLC grew its stake in shares of Fidelity Quality Factor ETF by 3.0% in the third quarter. High Probability Advisors LLC now owns 303,348 shares of the company’s stock worth $22,666,000 after purchasing an additional 8,840 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Fidelity Quality Factor ETF by 7.6% during the third quarter. JPMorgan Chase & Co. now owns 246,288 shares of the company’s stock valued at $18,403,000 after purchasing an additional 17,304 shares during the period. Finally, Great Lakes Retirement Inc. raised its stake in shares of Fidelity Quality Factor ETF by 2.6% during the third quarter. Great Lakes Retirement Inc. now owns 245,828 shares of the company’s stock valued at $18,368,000 after purchasing an additional 6,336 shares in the last quarter.

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.