(FRNW) Fidelity Covington Trust - Ratings and Ratios

The Fidelity Covington Trust - Fidelity Clean Energy ETF (BATS:FRNW) is a non-diversified exchange-traded fund designed to track the performance of companies globally that are involved in the production, distribution, or technological support of renewable energy sources such as solar, wind, and hydrogen. The fund typically invests at least 80% of its assets in securities from its underlying index, which includes a broad range of market capitalizations. This focus allows the ETF to capture both established players and emerging innovators in the renewable energy sector. The fund is structured to provide exposure to companies that are driving the transition to cleaner energy solutions.

From a technical standpoint, FRNW currently trades at $13.53, with a 20-day average volume of 6,737 shares. Its short-term moving averages (SMA 20: $13.37, SMA 50: $13.50) suggest a relatively stable price trend, while the SMA 200 ($14.62) indicates potential resistance at higher levels. The Average True Range (ATR) of 0.30 reflects low volatility in recent trading sessions. With an AUM of $23.86 million, the fund operates with a smaller asset base compared to larger ETFs in the sector.