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

Fidelity Value Factor ETF (NYSEARCA:FVAL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.83 and last traded at $62.83, with a volume of 4717 shares trading hands. The stock had previously closed at $61.24.

Fidelity Value Factor ETF Price Performance

The firm has a market cap of $880.73 million, a price-to-earnings ratio of 15.28 and a beta of 0.93. The stock has a 50-day moving average price of $60.21 and a 200 day moving average price of $58.31.

Institutional Investors Weigh In On Fidelity Value Factor ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Fidelity Value Factor ETF by 1.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,477 shares of the company’s stock worth $696,000 after buying an additional 188 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fidelity Value Factor ETF by 8.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,336 shares of the company’s stock worth $192,000 after purchasing an additional 267 shares during the last quarter. Comerica Bank lifted its holdings in shares of Fidelity Value Factor ETF by 33.7% during the first quarter. Comerica Bank now owns 2,182 shares of the company’s stock worth $125,000 after purchasing an additional 550 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Fidelity Value Factor ETF in the 2nd quarter valued at $32,000. Finally, PFG Advisors raised its position in Fidelity Value Factor ETF by 1.2% during the 3rd quarter. PFG Advisors now owns 47,778 shares of the company’s stock worth $2,895,000 after buying an additional 575 shares during the last quarter.

Fidelity Value Factor ETF Company Profile

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.