Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Trading Up 0.4% – Here’s Why

Shares of Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) rose 0.4% during trading on Friday . The stock traded as high as $61.25 and last traded at $61.00. Approximately 24,737 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 107,212 shares. The stock had previously closed at $60.76.

Fidelity Low Volatility Factor ETF Stock Performance

The stock has a market capitalization of $1.14 billion, a P/E ratio of 26.48 and a beta of 0.69. The firm’s fifty day simple moving average is $61.64 and its 200 day simple moving average is $60.41.

Hedge Funds Weigh In On Fidelity Low Volatility Factor ETF

Several hedge funds have recently bought and sold shares of FDLO. Envestnet Asset Management Inc. increased its holdings in Fidelity Low Volatility Factor ETF by 10.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 536,162 shares of the company’s stock valued at $30,583,000 after buying an additional 50,154 shares during the period. AE Wealth Management LLC increased its holdings in Fidelity Low Volatility Factor ETF by 69.6% in the 2nd quarter. AE Wealth Management LLC now owns 59,071 shares of the company’s stock valued at $3,369,000 after buying an additional 24,243 shares during the period. Thrivent Financial for Lutherans increased its holdings in Fidelity Low Volatility Factor ETF by 26.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 116,047 shares of the company’s stock valued at $6,619,000 after buying an additional 23,978 shares during the period. Kowal Investment Group LLC increased its holdings in Fidelity Low Volatility Factor ETF by 6.6% in the 2nd quarter. Kowal Investment Group LLC now owns 12,016 shares of the company’s stock valued at $685,000 after buying an additional 740 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Fidelity Low Volatility Factor ETF by 0.4% in the 2nd quarter. NewEdge Advisors LLC now owns 145,374 shares of the company’s stock valued at $8,292,000 after buying an additional 552 shares during the period.

About Fidelity Low Volatility Factor ETF

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.