Novem Group Takes $1.06 Million Position in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Novem Group acquired a new stake in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,866 shares of the company’s stock, valued at approximately $1,057,000.

Several other hedge funds also recently added to or reduced their stakes in RDVY. Cullen Frost Bankers Inc. acquired a new position in shares of First Trust NASDAQ Rising Dividend Achievers in the 4th quarter valued at $25,000. Summit Investment Advisors Inc. lifted its position in First Trust NASDAQ Rising Dividend Achievers by 195.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 443 shares of the company’s stock valued at $26,000 after buying an additional 293 shares during the last quarter. Graney & King LLC purchased a new position in First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth about $27,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth about $38,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter valued at about $40,000.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

First Trust NASDAQ Rising Dividend Achievers stock opened at $61.24 on Wednesday. The company’s 50 day simple moving average is $57.39 and its 200-day simple moving average is $60.08. First Trust NASDAQ Rising Dividend Achievers has a 1 year low of $50.27 and a 1 year high of $64.63. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.58 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a $0.2544 dividend. This is a positive change from First Trust NASDAQ Rising Dividend Achievers’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 27th. This represents a $1.02 dividend on an annualized basis and a yield of 1.66%.

First Trust NASDAQ Rising Dividend Achievers 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.