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

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.43 and last traded at $72.2460, with a volume of 716368 shares. The stock had previously closed at $72.72.

First Trust Rising Dividend Achievers ETF Trading Down 1.3%

The company has a market capitalization of $20.33 billion, a P/E ratio of 15.46 and a beta of 1.10. The company’s 50 day moving average is $70.57 and its 200-day moving average is $67.50.

First Trust Rising Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a $0.1996 dividend. This represents a $0.80 annualized dividend and a 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 Trading of First Trust Rising Dividend Achievers ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Sigma Planning Corp grew its stake in shares of First Trust Rising Dividend Achievers ETF by 6.4% in the fourth quarter. Sigma Planning Corp now owns 251,078 shares of the company’s stock worth $17,452,000 after acquiring an additional 15,073 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in First Trust Rising Dividend Achievers ETF by 45.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 10,884 shares of the company’s stock worth $756,000 after purchasing an additional 3,402 shares during the last quarter. US Bancorp DE grew its position in First Trust Rising Dividend Achievers ETF by 2.9% in the 4th quarter. US Bancorp DE now owns 366,138 shares of the company’s stock worth $25,440,000 after purchasing an additional 10,491 shares during the period. Wagner Wealth Management LLC grew its position in First Trust Rising Dividend Achievers ETF by 1.3% in the 4th quarter. Wagner Wealth Management LLC now owns 179,445 shares of the company’s stock worth $12,466,000 after purchasing an additional 2,311 shares during the period. Finally, Barnes Pettey Financial Advisors LLC raised its stake in First Trust Rising Dividend Achievers ETF by 1.5% during the 4th quarter. Barnes Pettey Financial Advisors LLC now owns 124,340 shares of the company’s stock valued at $8,638,000 after buying an additional 1,896 shares during 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.