First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Reaches New 12-Month High – Time to Buy?

Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) reached a new 52-week high during trading on Thursday . The company traded as high as $84.01 and last traded at $83.83, with a volume of 169018 shares. The stock had previously closed at $83.56.

First Trust Rising Dividend Achievers ETF Price Performance

The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00. The firm’s 50-day simple moving average is $79.97 and its two-hundred day simple moving average is $75.01.

First Trust Rising Dividend Achievers ETF Cuts Dividend

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

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC grew its stake in First Trust Rising Dividend Achievers ETF by 10.5% in the 4th quarter. LPL Financial LLC now owns 30,504,116 shares of the company’s stock valued at $2,119,121,000 after acquiring an additional 2,907,770 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of First Trust Rising Dividend Achievers ETF by 10.6% during the 4th quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock worth $783,359,000 after purchasing an additional 1,076,558 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in First Trust Rising Dividend Achievers ETF by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock valued at $442,526,000 after buying an additional 957,587 shares in the last quarter. Morgan Stanley lifted its stake in First Trust Rising Dividend Achievers ETF by 4.9% in the 4th 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 in the last quarter. Finally, Arax Advisory Partners purchased a new stake in First Trust Rising Dividend Achievers ETF in the 4th quarter valued at approximately $47,643,000.

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.