Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Hits New 52-Week High – Time to Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.40 and last traded at $41.40, with a volume of 189 shares changing hands. The stock had previously closed at $40.60.

Fidelity Enhanced Mid Cap ETF Price Performance

The firm’s 50 day moving average price is $39.45 and its two-hundred day moving average price is $37.91. The stock has a market cap of $7.40 billion, a PE ratio of 20.20 and a beta of 0.91.

Institutional Investors Weigh In On Fidelity Enhanced Mid Cap ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC bought a new position in shares of Fidelity Enhanced Mid Cap ETF in the fourth quarter worth $30,000. Cornerstone Planning Group LLC grew its holdings in Fidelity Enhanced Mid Cap ETF by 70.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,102 shares of the company’s stock valued at $43,000 after buying an additional 454 shares in the last quarter. Quattro Advisors LLC purchased a new position in Fidelity Enhanced Mid Cap ETF during the 4th quarter valued at about $43,000. Root Financial Partners LLC bought a new stake in shares of Fidelity Enhanced Mid Cap ETF during the first quarter valued at about $54,000. Finally, Advisory Services Network LLC bought a new stake in shares of Fidelity Enhanced Mid Cap ETF during the third quarter valued at about $75,000.

Fidelity Enhanced Mid Cap ETF Company Profile

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.