Fidelity Value Factor ETF (NYSEARCA:FVAL) Reaches New 52-Week High – Should You Buy?

Fidelity Value Factor ETF (NYSEARCA:FVAL)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $63.80 and last traded at $63.80, with a volume of 260 shares. The stock had previously closed at $63.26.

Fidelity Value Factor ETF Trading Up 0.7 %

The company has a market cap of $888.62 million, a price-to-earnings ratio of 15.28 and a beta of 0.93. The firm has a 50-day moving average price of $61.37 and a 200 day moving average price of $59.01.

Hedge Funds Weigh In On Fidelity Value Factor ETF

A number of hedge funds have recently added to or reduced their stakes in FVAL. Commonwealth Equity Services LLC lifted its position in shares of Fidelity Value Factor ETF by 25.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 897,295 shares of the company’s stock worth $54,376,000 after buying an additional 182,423 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Fidelity Value Factor ETF by 15.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,104,243 shares of the company’s stock worth $63,587,000 after acquiring an additional 149,954 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Fidelity Value Factor ETF by 7.5% in the second quarter. Thrivent Financial for Lutherans now owns 556,692 shares of the company’s stock worth $32,057,000 after acquiring an additional 38,752 shares during the last quarter. Cetera Investment Advisers boosted its stake in Fidelity Value Factor ETF by 64.8% in the first quarter. Cetera Investment Advisers now owns 95,114 shares of the company’s stock valued at $5,426,000 after acquiring an additional 37,404 shares during the period. Finally, Unique Wealth LLC bought a new position in shares of Fidelity Value Factor ETF during the third quarter valued at approximately $1,980,000.

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.