First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 52-Week High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares reached a new 52-week high on Thursday . The company traded as high as $73.05 and last traded at $72.8350, with a volume of 160428 shares changing hands. The stock had previously closed at $71.99.

First Trust Rising Dividend Achievers ETF Trading Down 0.1%

The firm has a market capitalization of $20.13 billion, a P/E ratio of 15.46 and a beta of 1.10. The stock’s 50-day simple moving average is $69.44 and its 200-day simple moving average is $66.87.

First Trust Rising Dividend Achievers ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a dividend of $0.1996 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, December 12th. This is an increase from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15.

Institutional Trading of First Trust Rising Dividend Achievers ETF

A number of large investors have recently bought and sold shares of RDVY. Raymond James Financial Inc. lifted its stake in First Trust Rising Dividend Achievers ETF by 1.8% in the 2nd quarter. Raymond James Financial Inc. now owns 11,201,473 shares of the company’s stock worth $702,780,000 after purchasing an additional 198,938 shares in the last quarter. Ameriprise Financial Inc. grew its position in First Trust Rising Dividend Achievers ETF by 10.1% during the third quarter. Ameriprise Financial Inc. now owns 7,790,897 shares of the company’s stock valued at $523,914,000 after acquiring an additional 716,800 shares during the last quarter. Bank of America Corp DE lifted its stake in First Trust Rising Dividend Achievers ETF by 7.0% in the third quarter. Bank of America Corp DE now owns 6,992,315 shares of the company’s stock worth $470,303,000 after purchasing an additional 455,258 shares during the last quarter. UBS Group AG boosted its holdings in First Trust Rising Dividend Achievers ETF by 12.2% during the 3rd quarter. UBS Group AG now owns 5,740,264 shares of the company’s stock valued at $386,090,000 after acquiring an additional 624,936 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in First Trust Rising Dividend Achievers ETF by 13.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,906,017 shares of the company’s stock worth $329,979,000 after acquiring an additional 577,318 shares during the last quarter.

About First Trust Rising Dividend Achievers ETF

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that is based on the NASDAQ US Rising Dividend Achievers index. The fund tracks an index of 50 large-cap stocks with rising, high-quality dividends. RDVY was launched on Jan 6, 2014 and is managed by First Trust.