First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Hits New 12-Month High – What’s Next?

Shares of First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $51.46 and last traded at $51.3270, with a volume of 381253 shares trading hands. The stock had previously closed at $51.20.

First Trust Morningstar Dividend Leaders Index Fund Trading Down 0.7%

The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 13.96 and a beta of 0.73. The firm has a 50-day moving average of $47.73 and a two-hundred day moving average of $45.06.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of FDL. MML Investors Services LLC grew its position in First Trust Morningstar Dividend Leaders Index Fund by 7.3% during the second quarter. MML Investors Services LLC now owns 150,432 shares of the exchange traded fund’s stock worth $6,299,000 after buying an additional 10,285 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 56.5% in the 2nd quarter. Snowden Capital Advisors LLC now owns 80,027 shares of the exchange traded fund’s stock worth $3,351,000 after acquiring an additional 28,901 shares during the period. Captrust Financial Advisors grew its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 56.3% during the 2nd quarter. Captrust Financial Advisors now owns 22,117 shares of the exchange traded fund’s stock worth $926,000 after purchasing an additional 7,966 shares in the last quarter. Equitable Holdings Inc. increased its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 9.7% during the second quarter. Equitable Holdings Inc. now owns 191,086 shares of the exchange traded fund’s stock valued at $8,001,000 after purchasing an additional 16,903 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 49.7% in the second quarter. Geneos Wealth Management Inc. now owns 29,296 shares of the exchange traded fund’s stock valued at $1,227,000 after purchasing an additional 9,729 shares in the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.