LPL Financial LLC Boosts Stock Position in First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY)

LPL Financial LLC lifted its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) by 6.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 23,374,014 shares of the company’s stock after buying an additional 1,438,128 shares during the period. LPL Financial LLC owned 0.10% of First Trust SMID Cap Rising Dividend Achievers ETF worth $783,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 45.1% during the first quarter. Cetera Investment Advisers now owns 5,003,154 shares of the company’s stock worth $167,606,000 after purchasing an additional 1,556,017 shares in the last quarter. Kovack Advisors Inc. boosted its holdings in First Trust SMID Cap Rising Dividend Achievers ETF by 19.7% in the 1st quarter. Kovack Advisors Inc. now owns 17,454 shares of the company’s stock worth $585,000 after buying an additional 2,872 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in First Trust SMID Cap Rising Dividend Achievers ETF by 403.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 127,419 shares of the company’s stock worth $4,269,000 after buying an additional 102,116 shares in the last quarter. Triumph Capital Management increased its stake in First Trust SMID Cap Rising Dividend Achievers ETF by 1.0% during the 1st quarter. Triumph Capital Management now owns 215,421 shares of the company’s stock worth $7,217,000 after buying an additional 2,092 shares in the last quarter. Finally, Choreo LLC acquired a new position in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the first quarter valued at approximately $402,000.

First Trust SMID Cap Rising Dividend Achievers ETF Price Performance

NASDAQ SDVY opened at $36.60 on Friday. The stock’s 50 day simple moving average is $35.23 and its 200-day simple moving average is $34.72. The company has a market cap of $8.47 billion, a PE ratio of 14.54 and a beta of 1.18. First Trust SMID Cap Rising Dividend Achievers ETF has a 1-year low of $28.84 and a 1-year high of $40.60.

First Trust SMID Cap Rising Dividend Achievers ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued a $0.1178 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.47 dividend on an annualized basis and a yield of 1.29%.

About First Trust SMID Cap Rising Dividend Achievers ETF

The First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of small- and mid-cap US companies with historically increasing dividends and that meet various fundamental criteria. SDVY was launched on Nov 1, 2017 and is managed by First Trust.