Fidelity Clean Energy ETF (BATS:FRNW) Trading 3.5% Higher – Should You Buy?

Fidelity Clean Energy ETF (BATS:FRNW) was up 3.5% during mid-day trading on Wednesday . The stock traded as high as $24.60 and last traded at $24.47. Approximately 140,290 shares were traded during trading, an increase of 72% from the average daily volume of 81,680 shares. The stock had previously closed at $23.65.

Fidelity Clean Energy ETF Price Performance

The company’s 50-day simple moving average is $23.07 and its 200-day simple moving average is $21.86. The stock has a market capitalization of $40.38 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. grew its stake in Fidelity Clean Energy ETF (BATS:FRNW) by 2,145.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,677 shares of the company’s stock after purchasing an additional 9,246 shares during the quarter. Sunbelt Securities Inc. owned approximately 0.59% of Fidelity Clean Energy ETF worth $188,000 as of its most recent SEC filing.

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.