Sovereign Financial Group Inc. Acquires 11,552 Shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Sovereign Financial Group Inc. grew its holdings in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 14.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,758 shares of the company’s stock after buying an additional 11,552 shares during the period. First Trust NASDAQ Rising Dividend Achievers makes up 1.4% of Sovereign Financial Group Inc.’s investment portfolio, making the stock its 15th largest holding. Sovereign Financial Group Inc.’s holdings in First Trust NASDAQ Rising Dividend Achievers were worth $4,741,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RDVY. LPL Financial LLC raised its position in shares of First Trust NASDAQ Rising Dividend Achievers by 4.5% during the third quarter. LPL Financial LLC now owns 16,132,424 shares of the company’s stock worth $741,285,000 after purchasing an additional 689,605 shares during the period. Morgan Stanley lifted its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 8.1% in the third quarter. Morgan Stanley now owns 12,995,589 shares of the company’s stock valued at $597,147,000 after buying an additional 969,819 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of First Trust NASDAQ Rising Dividend Achievers by 5,519.6% during the fourth quarter. International Assets Investment Management LLC now owns 6,615,517 shares of the company’s stock valued at $341,824,000 after buying an additional 6,497,795 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of First Trust NASDAQ Rising Dividend Achievers by 10.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,803,282 shares of the company’s stock worth $299,856,000 after acquiring an additional 557,879 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of First Trust NASDAQ Rising Dividend Achievers by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 4,070,451 shares of the company’s stock worth $187,008,000 after acquiring an additional 187,162 shares in the last quarter.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

Shares of First Trust NASDAQ Rising Dividend Achievers stock traded down $0.07 on Wednesday, hitting $54.76. The company had a trading volume of 646,226 shares, compared to its average volume of 783,212. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 9.78 and a beta of 1.15. First Trust NASDAQ Rising Dividend Achievers has a 1 year low of $42.93 and a 1 year high of $56.28. The stock has a 50 day moving average of $54.41 and a 200-day moving average of $51.22.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.2238 per share. This represents a $0.90 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, March 21st.

About First Trust NASDAQ Rising Dividend Achievers

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.