Fidelity Clean Energy ETF (BATS:FRNW) Trading 28% Higher – Time to Buy?

Fidelity Clean Energy ETF (BATS:FRNW)’s share price rose 28% during mid-day trading on Wednesday . The company traded as high as $17.3190 and last traded at $21.7150. Approximately 10,150 shares were traded during trading, an increase of 29% from the average daily volume of 7,847 shares. The stock had previously closed at $16.9650.

Fidelity Clean Energy ETF Trading Up 28.0%

The company’s 50 day moving average price is $20.71 and its two-hundred day moving average price is $19.46. The stock has a market cap of $35.83 million, a P/E ratio of 21.58 and a beta of 1.12.

Hedge Funds Weigh In On Fidelity Clean Energy ETF

A hedge fund recently raised its stake in Fidelity Clean Energy ETF stock. Sunbelt Securities Inc. raised its stake in Fidelity Clean Energy ETF (BATS:FRNW) by 2,145.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,677 shares of the company’s stock after purchasing an additional 9,246 shares during the period. Sunbelt Securities Inc. owned 0.59% of Fidelity Clean Energy ETF worth $188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Fidelity Clean Energy ETF

The Fidelity Clean Energy ETF (FRNW) is an exchange-traded fund that is based on the Fidelity Clean Energy index, a market-cap-weighted index of global clean energy companies screened for environmental, social, and governance factors. FRNW was launched on Oct 5, 2021 and is managed by Fidelity.