Hidden Cove Wealth Management LLC Sells 2,649 Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)

Hidden Cove Wealth Management LLC decreased its position in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,683 shares of the company’s stock after selling 2,649 shares during the quarter. First Trust Rising Dividend Achievers ETF comprises about 3.2% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Hidden Cove Wealth Management LLC’s holdings in First Trust Rising Dividend Achievers ETF were worth $4,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RDVY. Bank of New York Mellon Corp boosted its position in shares of First Trust Rising Dividend Achievers ETF by 16.3% during the fourth quarter. Bank of New York Mellon Corp now owns 5,119 shares of the company’s stock worth $303,000 after buying an additional 719 shares during the period. Cutter & CO Brokerage Inc. boosted its position in First Trust Rising Dividend Achievers ETF by 6.1% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 3,947 shares of the company’s stock worth $233,000 after acquiring an additional 226 shares during the period. Whipplewood Advisors LLC acquired a new position in First Trust Rising Dividend Achievers ETF during the 4th quarter worth $290,000. Lineweaver Wealth Advisors LLC grew its stake in shares of First Trust Rising Dividend Achievers ETF by 32.5% in the fourth quarter. Lineweaver Wealth Advisors LLC now owns 75,081 shares of the company’s stock worth $4,440,000 after purchasing an additional 18,405 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in shares of First Trust Rising Dividend Achievers ETF by 4.2% during the fourth quarter. Kovack Advisors Inc. now owns 113,520 shares of the company’s stock valued at $6,714,000 after purchasing an additional 4,601 shares during the period.

First Trust Rising Dividend Achievers ETF Stock Up 0.6%

Shares of NASDAQ RDVY opened at $62.09 on Friday. The stock has a market cap of $14.46 billion, a P/E ratio of 14.82 and a beta of 1.15. The firm’s 50-day simple moving average is $59.61 and its 200 day simple moving average is $59.71. First Trust Rising Dividend Achievers ETF has a fifty-two week low of $50.27 and a fifty-two week high of $64.63.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 26th will be given a dividend of $0.1706 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%.

About First Trust Rising Dividend Achievers ETF

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.