(FELG) Fidelity Covington Trust - Ratings and Ratios

The fund is designed to track the performance of the Russell 1000 Growth Index, a market-capitalization-weighted index that includes the largest 1,000 publicly traded companies in the U.S., focusing on those with higher growth potential. By investing at least 80% of its assets in these securities, Fidelity Covington Trust aligns closely with the indexs objectives, offering exposure to large-cap growth stocks. The Russell 1000 Growth Index is rebalanced annually and reconstituted quarterly, ensuring it reflects current market conditions and growth trends. The funds investment strategy is centered on a research-intensive approach, where the adviser evaluates potential investments based on multiple criteria. These include valuation metrics such as price-to-earnings and price-to-book ratios, growth indicators like revenue and earnings growth rates, quality factors such as profitability and balance sheet strength, and other relevant considerations. This multi-faceted approach aims to identify companies that are well-positioned for long-term success. Given its non-diversified status, the fund may concentrate its investments in a smaller number of issuers or sectors, which can result in higher volatility compared to diversified funds. However, this concentration also allows for the potential to capitalize on specific growth opportunities more effectively.

The fund will invest at least 80% of assets in common stocks included in the Russell 1000® Growth Index, a market-capitalization-weighted index measuring the performance of the large-cap growth segment of the U.S. equity market. The adviser employs a research-driven approach to identify long-term drivers of stock returns, considering factors such as valuation, growth, quality, and other relevant metrics. The fund is non-diversified, allowing for potential concentration in specific sectors or issuers.

Ticker Symbol: FELG Exchange: NYSE ARCA Type: ETF Country Origin: USA ETF Category: Large Growth

Average Volume 20d: 545,550 Last Price: 31.83 SMA 20: 30.37 SMA 50: 32.21 SMA 200: 33.35 ATR: 1.09

AUM: 3054.31M USD

3-Month Forecast: Based on the provided data, the fund is likely to experience moderate volatility, with price movements influenced by its average true range (ATR) of 1.09. The recent price of 31.83 is slightly below the SMA 50 (32.21) but above the SMA 20 (30.37), suggesting potential support around the SMA 20 level. The SMA 200 at 33.35 may act as a resistance level in the short term. With an AUM of over $3.5 billion, the fund is well-established, which typically indicates stability and investor confidence.