Kovack Advisors Inc. Reduces Stock Position in First Trust Rising Dividend Achievers ETF $RDVY

Kovack Advisors Inc. lowered its stake in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,340 shares of the company’s stock after selling 6,277 shares during the quarter. First Trust Rising Dividend Achievers ETF accounts for 0.7% of Kovack Advisors Inc.’s portfolio, making the stock its 29th largest position. Kovack Advisors Inc.’s holdings in First Trust Rising Dividend Achievers ETF were worth $7,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDVY. LPL Financial LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 11.2% in the first quarter. LPL Financial LLC now owns 23,686,574 shares of the company’s stock worth $1,386,612,000 after purchasing an additional 2,379,430 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in First Trust Rising Dividend Achievers ETF by 9.7% in the first quarter. Raymond James Financial Inc. now owns 11,002,535 shares of the company’s stock worth $644,088,000 after purchasing an additional 971,388 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in First Trust Rising Dividend Achievers ETF by 26.5% in the second quarter. Envestnet Asset Management Inc. now owns 4,328,699 shares of the company’s stock worth $271,583,000 after purchasing an additional 907,673 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 6,074,450 shares of the company’s stock worth $355,598,000 after purchasing an additional 434,447 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in First Trust Rising Dividend Achievers ETF by 44.3% in the second quarter. Truist Financial Corp now owns 1,403,926 shares of the company’s stock worth $88,082,000 after purchasing an additional 430,935 shares during the last quarter.

First Trust Rising Dividend Achievers ETF Trading Down 0.6%

Shares of RDVY stock opened at $67.53 on Friday. First Trust Rising Dividend Achievers ETF has a 12-month low of $50.27 and a 12-month high of $68.49. The firm’s 50 day moving average is $66.64 and its 200 day moving average is $63.06. The stock has a market capitalization of $17.56 billion, a P/E ratio of 15.46 and a beta of 1.10.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were paid a dividend of $0.1487 per share. This represents a $0.59 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 25th.

First Trust Rising Dividend Achievers ETF 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.