First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sees Large Drop in Short Interest

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 294,906 shares, a drop of 33.4% from the January 15th total of 443,116 shares. Based on an average trading volume of 1,596,983 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 1,596,983 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Rising Dividend Achievers ETF Price Performance

Shares of NASDAQ:RDVY opened at $71.86 on Friday. The firm has a market capitalization of $20.28 billion, a PE ratio of 15.46 and a beta of 1.10. The firm’s 50-day moving average is $71.37 and its two-hundred day moving average is $68.12. First Trust Rising Dividend Achievers ETF has a 1 year low of $50.27 and a 1 year high of $73.43.

First Trust Rising Dividend Achievers ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were issued a $0.1996 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, December 12th.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position 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 grew its stake in First Trust Rising Dividend Achievers ETF by 4.9% during the 4th quarter. Morgan Stanley now owns 20,152,942 shares of the company’s stock worth $1,400,025,000 after purchasing an additional 940,590 shares in the last quarter. Wells Fargo & Company MN increased its holdings in 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 period. Raymond James Financial Inc. increased its holdings in First Trust Rising Dividend Achievers ETF by 1.8% during the 2nd quarter. Raymond James Financial Inc. now owns 11,201,473 shares of the company’s stock worth $702,780,000 after purchasing an additional 198,938 shares during the period. Finally, Ameriprise Financial Inc. raised its position in First Trust Rising Dividend Achievers ETF by 10.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,790,897 shares of the company’s stock valued at $523,914,000 after purchasing an additional 716,800 shares in the last quarter.

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.