First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Reaches New 52-Week High – What’s Next?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $83.99 and last traded at $83.34, with a volume of 1241600 shares changing hands. The stock had previously closed at $83.20.

First Trust Rising Dividend Achievers ETF Price Performance

The stock’s 50 day moving average is $79.19 and its two-hundred day moving average is $74.62. The stock has a market capitalization of $25.56 billion, a PE ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

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

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

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