First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sees Significant Decline in Short Interest

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 103,762 shares, a drop of 47.6% from the February 26th total of 197,978 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 2,042,256 shares, the short-interest ratio is presently 0.1 days.

First Trust Rising Dividend Achievers ETF Stock Performance

RDVY stock opened at $69.27 on Thursday. The business’s 50-day moving average is $71.41 and its 200 day moving average is $69.29. The stock has a market cap of $19.54 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. First Trust Rising Dividend Achievers ETF has a 12-month low of $50.27 and a 12-month high of $73.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. purchased a new position in First Trust Rising Dividend Achievers ETF in the 4th quarter valued at $221,000. Rockefeller Capital Management L.P. grew its holdings in shares of First Trust Rising Dividend Achievers ETF by 126.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 951,998 shares of the company’s stock worth $66,135,000 after buying an additional 530,990 shares in the last quarter. World Investment Advisors raised its position in shares of First Trust Rising Dividend Achievers ETF by 31.3% in the fourth quarter. World Investment Advisors now owns 158,704 shares of the company’s stock valued at $11,025,000 after buying an additional 37,803 shares during the last quarter. Advisortrust Partners LLC acquired a new stake in shares of First Trust Rising Dividend Achievers ETF in the fourth quarter valued at about $223,000. Finally, Rubicon Advisors GP purchased a new position in shares of First Trust Rising Dividend Achievers ETF in the fourth quarter worth about $1,351,000.

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.