Truist Financial Corp Increases Holdings in Fidelity Dividend ETF for Rising Rates

On October 19, 2024, it was reported that Truist Financial Corp has increased its investment in the Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR). According to their most recent filing with the Securities and Exchange Commission, Truist raised its position by 24.4% during the second quarter. This led the firm to own a total of 5,631 shares in the ETF, having purchased an additional 1,103 shares over the period. As a result of these transactions, Truist's holdings in FDRR were valued at approximately $272,000, as stated in their latest report.

Furthermore, other institutional investors have also made changes to their holdings in the Fidelity Dividend ETF for Rising Rates. For instance, Private Advisor Group LLC increased its stake in the ETF by 4.3% in the first quarter, leading to a total of 193,492 shares valued at about $9 million, after acquiring 8,060 additional shares. Similarly, EP Wealth Advisors LLC expanded its position by 4.4%, resulting in ownership of 399,954 shares, which are worth around $18.6 million following a purchase of 16,745 shares. Furthermore, Sugar Maple Asset Management LLC entered a new position valued at approximately $3 million, and Tidal Investments LLC acquired shares worth about $228,000. Lastly, Cetera Advisors LLC also made a new investment in the ETF valued at around $919,000.

Current Market Performance of Fidelity Dividend ETF

The Fidelity Dividend ETF for Rising Rates saw a slight increase of 0.3% recently, with its stock opening at $52.89. The ETF has a 50-day moving average price of $50.78 and a 200-day moving average price of $48.57. It currently holds a market capitalization of $602.95 million, with a price-to-earnings ratio of 14.66 and a beta of 0.84. Over the past year, the ETF's price has ranged from a low of $38.14 to a high of $53.14.

Understanding Fidelity Dividend ETF for Rising Rates

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund that aims to offer exposure to large- and mid-cap companies in developed markets known for their strong dividend characteristics. This ETF is designed to benefit from rising interest rates as it tracks an index comprised of firms that demonstrate a positive correlation to increasing 10-year U.S. Treasury yields.

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Truist, Fidelity, ETFs