Fidelity Value Factor ETF (NYSEARCA:FVAL) Sets New 12-Month High – Still a Buy?

Fidelity Value Factor ETF (NYSEARCA:FVAL) hit a new 52-week high on Thursday . The company traded as high as $79.50 and last traded at $79.34, with a volume of 38972 shares. The stock had previously closed at $79.04.

Fidelity Value Factor ETF Trading Up 0.3%

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 19.06 and a beta of 0.95. The stock’s 50 day moving average is $74.30 and its two-hundred day moving average is $73.03.

Hedge Funds Weigh In On Fidelity Value Factor ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FVAL. Thrivent Financial for Lutherans boosted its stake in Fidelity Value Factor ETF by 1,449.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 417,772 shares of the company’s stock worth $28,772,000 after purchasing an additional 390,802 shares during the period. Beacon Advisors Holdings LLC acquired a new position in Fidelity Value Factor ETF in the 4th quarter worth $13,819,000. MAI Capital Management boosted its stake in Fidelity Value Factor ETF by 98.9% in the 3rd quarter. MAI Capital Management now owns 299,051 shares of the company’s stock worth $20,596,000 after purchasing an additional 148,716 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity Value Factor ETF by 3,648.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 113,362 shares of the company’s stock worth $8,193,000 after purchasing an additional 110,338 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in Fidelity Value Factor ETF by 61.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 290,237 shares of the company’s stock worth $20,975,000 after purchasing an additional 110,322 shares during the period.

About Fidelity Value Factor ETF

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.