Truist Financial Corp Expands Its Investment in Fidelity Dividend ETF for Rising Rates

Truist Financial Corp has notably increased its holdings in the Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR) by 24.4% during the second quarter, as revealed in a recent filing with the Securities and Exchange Commission (SEC). Following this acquisition, the fund now owns 5,631 shares of the ETF, which reflects an additional purchase of 1,103 shares during this period. As of the latest disclosure, Truist Financial Corp's total investment in the Fidelity Dividend ETF is valued at approximately $272,000.

In addition to Truist Financial, other institutional investors have also shown interest in Fidelity Dividend ETF for Rising Rates. For instance, Private Advisor Group LLC increased its stake by 4.3% in the first quarter, bringing its ownership to 193,492 shares worth around $9,007,000 after an addition of 8,060 shares. Similarly, EP Wealth Advisors LLC saw its holdings grow by 4.4% during the same quarter, accumulating 399,954 shares with a total value of $18,618,000 after acquiring 16,745 more shares. Other firms, including Sugar Maple Asset Management LLC and Cetera Advisors LLC, have also entered the market, buying stakes valued at $3,042,000 and $919,000, respectively.

Performance of Fidelity Dividend ETF for Rising Rates

As of Friday, Fidelity Dividend ETF for Rising Rates was trading at around $52.89. The ETF exhibits a 50-day moving average price of $50.78 and a 200-day average of $48.57. Its market capitalization stands at $602.95 million, with a price-to-earnings ratio of 14.66 and a beta of 0.84. The fund has shown considerable price variability, with a 52-week low of $38.14 and a high of $53.14.

Profile of Fidelity Dividend ETF for Rising Rates

The Fidelity Dividend ETF for Rising Rates (FDRR) is an exchange-traded fund designed to follow the Fidelity Dividend for Rising Rates Index. This fund tracks a variety of large and mid-cap companies in developed markets that are known for strong dividend offerings and a positive correlation with rising 10-year US Treasury yields.

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