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

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) hit a new 52-week high during trading on Thursday . The company traded as high as $73.54 and last traded at $73.0060, with a volume of 118017 shares changing hands. The stock had previously closed at $73.01.

First Trust Rising Dividend Achievers ETF Stock Performance

The company has a market cap of $20.59 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. The company’s fifty day moving average is $71.80 and its two-hundred day moving average is $68.64.

First Trust Rising Dividend Achievers ETF Increases Dividend

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

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of First Trust Rising Dividend Achievers ETF by 70.2% in the 1st quarter. AQR Capital Management LLC now owns 31,071 shares of the company’s stock valued at $1,819,000 after buying an additional 12,820 shares during the period. Focus Partners Advisor Solutions LLC raised its position in First Trust Rising Dividend Achievers ETF by 10.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 12,276 shares of the company’s stock valued at $770,000 after acquiring an additional 1,134 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in First Trust Rising Dividend Achievers ETF in the second quarter valued at approximately $1,574,000. Rossby Financial LCC lifted its holdings in First Trust Rising Dividend Achievers ETF by 103.5% in the second quarter. Rossby Financial LCC now owns 1,640 shares of the company’s stock valued at $103,000 after acquiring an additional 834 shares during the period. Finally, Quaker Wealth Management LLC boosted its position in First Trust Rising Dividend Achievers ETF by 200.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 1,135 shares in the last quarter.

First Trust Rising Dividend Achievers ETF Company Profile

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.