Fidelity Clean Energy ETF (BATS:FRNW) Trading Up 3% – Here’s Why

Fidelity Clean Energy ETF (BATS:FRNW)’s share price was up 3% during trading on Wednesday . The company traded as high as $13.67 and last traded at $13.87. Approximately 2,429 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 7,585 shares. The stock had previously closed at $13.47.

Fidelity Clean Energy ETF Price Performance

The company has a market cap of $24.37 million, a price-to-earnings ratio of 19.03 and a beta of 1.12. The business has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $14.24.

Institutional Investors Weigh In On Fidelity Clean Energy ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in shares of Fidelity Clean Energy ETF during the fourth quarter worth approximately $954,000. Jane Street Group LLC bought a new position in Fidelity Clean Energy ETF in the 3rd quarter worth approximately $274,000. Virtu Financial LLC acquired a new position in Fidelity Clean Energy ETF during the 4th quarter worth $176,000. Menora Mivtachim Holdings LTD. acquired a new position in Fidelity Clean Energy ETF during the 4th quarter worth $138,000. Finally, Commonwealth Equity Services LLC boosted its position in Fidelity Clean Energy ETF by 6.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,754 shares of the company’s stock valued at $602,000 after buying an additional 2,674 shares during the last quarter.

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.