First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 12-Month High – Still a Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) hit a new 52-week high during trading on Thursday. The company traded as high as $55.21 and last traded at $55.2940, with a volume of 96,937 shares changing hands. The stock had previously closed at $54.74.

First Trust Morningstar Dividend Leaders Index Fund Price Performance

The business has a 50-day moving average of $51.66 and a 200 day moving average of $50.62. The company has a market cap of $8.34 billion, a PE ratio of 13.96 and a beta of 0.58.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter worth about $46,996,000. D.A. Davidson & CO. bought a new position in First Trust Morningstar Dividend Leaders Index Fund during the third quarter valued at approximately $20,203,000. Perryman Financial Advisory Inc. AD purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter valued at $11,658,000. Kestra Advisory Services LLC raised its position in First Trust Morningstar Dividend Leaders Index Fund by 46.1% in the first quarter. Kestra Advisory Services LLC now owns 696,641 shares of the exchange traded fund’s stock valued at $35,389,000 after purchasing an additional 219,965 shares during the period. Finally, Sigma Planning Corp acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter worth $6,924,000.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

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.