First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 12-Month High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) reached a new 52-week high during trading on Friday . The company traded as high as $81.46 and last traded at $81.21, with a volume of 124795 shares trading hands. The stock had previously closed at $80.80.

First Trust Rising Dividend Achievers ETF Stock Up 0.2%

The stock has a market cap of $24.79 billion, a PE ratio of 15.46 and a beta of 1.00. The stock has a fifty day moving average of $78.66 and a 200-day moving average of $74.34.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a $0.1474 dividend. This represents a $0.59 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

Several large investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of First Trust Rising Dividend Achievers ETF by 10.5% during the fourth quarter. LPL Financial LLC now owns 30,504,116 shares of the company’s stock worth $2,119,121,000 after acquiring an additional 2,907,770 shares during the period. Morgan Stanley lifted its position in First Trust Rising Dividend Achievers ETF by 4.9% in the fourth quarter. Morgan Stanley now owns 20,152,942 shares of the company’s stock valued at $1,400,025,000 after purchasing an additional 940,590 shares during the period. Raymond James Financial Inc. boosted its holdings in First Trust Rising Dividend Achievers ETF by 2.2% in the 4th quarter. Raymond James Financial Inc. now owns 11,285,710 shares of the company’s stock valued at $784,018,000 after purchasing an additional 243,585 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in First Trust Rising Dividend Achievers ETF by 10.6% in the 4th quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock valued at $783,359,000 after purchasing an additional 1,076,558 shares in the last quarter. Finally, Bank of America Corp DE increased its position in First Trust Rising Dividend Achievers ETF by 3.0% during the 1st quarter. Bank of America Corp DE now owns 7,444,315 shares of the company’s stock worth $508,298,000 after purchasing an additional 219,060 shares during the period.

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.