Fidelity Yield Enhanced Equity ETF (NYSEARCA:FYEE) Trading Down 0.3% – Here’s Why

Fidelity Yield Enhanced Equity ETF (NYSEARCA:FYEE) shares dropped 0.3% on Thursday . The stock traded as low as $28.75 and last traded at $28.82. Approximately 119,522 shares were traded during mid-day trading, an increase of 89% from the average daily volume of 63,152 shares. The stock had previously closed at $28.90.

Fidelity Yield Enhanced Equity ETF Price Performance

The company has a market cap of $141.22 million, a price-to-earnings ratio of 24.14 and a beta of 0.77. The firm has a fifty day simple moving average of $28.90 and a 200 day simple moving average of $28.32.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FYEE. JPMorgan Chase & Co. bought a new stake in Fidelity Yield Enhanced Equity ETF during the third quarter valued at about $362,000. Roxbury Financial LLC increased its stake in shares of Fidelity Yield Enhanced Equity ETF by 225.2% in the fourth quarter. Roxbury Financial LLC now owns 1,626 shares of the company’s stock worth $47,000 after purchasing an additional 1,126 shares during the period. Traynor Capital Management Inc. increased its stake in shares of Fidelity Yield Enhanced Equity ETF by 114.0% in the fourth quarter. Traynor Capital Management Inc. now owns 29,854 shares of the company’s stock worth $856,000 after purchasing an additional 15,904 shares during the period. Parsons Capital Management Inc. RI acquired a new position in shares of Fidelity Yield Enhanced Equity ETF during the 4th quarter worth about $282,000. Finally, Spire Wealth Management boosted its stake in Fidelity Yield Enhanced Equity ETF by 457.0% during the 4th quarter. Spire Wealth Management now owns 21,846 shares of the company’s stock valued at $627,000 after purchasing an additional 17,924 shares during the period.

About Fidelity Yield Enhanced Equity ETF

Fidelity Yield Enhanced Equity ETF (NYSEARCA: FYEE) is an exchange-traded fund managed by Fidelity Investments and listed on the NYSE Arca. The fund is positioned to provide investors with equity market exposure combined with an income-oriented objective, making it a potential choice for investors seeking yield from an equity allocation within a diversified portfolio.

The ETF builds a portfolio of stocks and employs income-focused strategies designed to enhance distributions to shareholders.