Michels Family Financial LLC Invests $587,000 in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)

Michels Family Financial LLC acquired a new stake in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,933 shares of the company’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its stake in First Trust Rising Dividend Achievers ETF by 12.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 667,203 shares of the company’s stock valued at $39,458,000 after buying an additional 74,539 shares during the last quarter. Traynor Capital Management Inc. purchased a new stake in First Trust Rising Dividend Achievers ETF during the fourth quarter valued at $209,000. Mutual Advisors LLC lifted its holdings in First Trust Rising Dividend Achievers ETF by 1.5% in the fourth quarter. Mutual Advisors LLC now owns 52,551 shares of the company’s stock valued at $3,252,000 after acquiring an additional 767 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in First Trust Rising Dividend Achievers ETF by 31.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 120,161 shares of the company’s stock valued at $7,106,000 after acquiring an additional 28,960 shares during the period. Finally, Sound Income Strategies LLC purchased a new position in First Trust Rising Dividend Achievers ETF in the fourth quarter worth about $40,000.

First Trust Rising Dividend Achievers ETF Stock Down 0.9%

NASDAQ RDVY opened at $59.43 on Friday. First Trust Rising Dividend Achievers ETF has a 52 week low of $50.27 and a 52 week high of $64.63. The firm has a market capitalization of $13.84 billion, a P/E ratio of 14.58 and a beta of 1.15. The company has a 50-day moving average price of $57.47 and a 200-day moving average price of $60.08.

First Trust Rising Dividend Achievers ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a dividend of $0.2544 per share. This represents a $1.02 annualized dividend and a yield of 1.71%. This is a positive change from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 27th.

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.