First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Reaches New 52-Week High – Still a Buy?

Shares of First Trust Value Line Dividend Index Fund (NYSEARCA:FVDGet Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.15 and last traded at $47.1840, with a volume of 60823 shares. The stock had previously closed at $46.79.

First Trust Value Line Dividend Index Fund Price Performance

The business has a fifty day simple moving average of $46.19 and a 200 day simple moving average of $45.90. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 18.85 and a beta of 0.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of First Trust Value Line Dividend Index Fund during the fourth quarter worth $28,000. Quaker Wealth Management LLC grew its stake in First Trust Value Line Dividend Index Fund by 200.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 827 shares of the company’s stock valued at $37,000 after acquiring an additional 1,650 shares in the last quarter. Winnow Wealth LLC acquired a new stake in First Trust Value Line Dividend Index Fund in the 2nd quarter valued at about $45,000. Bank of Montreal Can acquired a new stake in First Trust Value Line Dividend Index Fund in the 2nd quarter valued at about $49,000. Finally, Caldwell Trust Co purchased a new position in First Trust Value Line Dividend Index Fund in the 2nd quarter worth approximately $54,000.

First Trust Value Line Dividend Index Fund Company Profile

(Get Free Report)

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.

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