Merit Financial Group LLC Has $14.61 Million Position in First Trust Rising Dividend Achievers ETF $RDVY

Merit Financial Group LLC lifted its position in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 311.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,248 shares of the company’s stock after buying an additional 159,124 shares during the period. Merit Financial Group LLC’s holdings in First Trust Rising Dividend Achievers ETF were worth $14,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Confluence Wealth Services Inc. boosted its position in shares of First Trust Rising Dividend Achievers ETF by 1.2% during the third quarter. Confluence Wealth Services Inc. now owns 12,638 shares of the company’s stock worth $850,000 after buying an additional 153 shares during the period. Quad Cities Investment Group LLC boosted its position in First Trust Rising Dividend Achievers ETF by 0.7% during the fourth quarter. Quad Cities Investment Group LLC now owns 21,219 shares of the company’s stock valued at $1,474,000 after purchasing an additional 157 shares during the last quarter. Allworth Financial LP boosted its position in First Trust Rising Dividend Achievers ETF by 0.3% during the third quarter. Allworth Financial LP now owns 59,767 shares of the company’s stock valued at $4,020,000 after purchasing an additional 159 shares during the last quarter. Howard Bailey Securities LLC boosted its position in First Trust Rising Dividend Achievers ETF by 4.6% during the third quarter. Howard Bailey Securities LLC now owns 3,673 shares of the company’s stock valued at $247,000 after purchasing an additional 160 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in First Trust Rising Dividend Achievers ETF by 0.8% during the third quarter. Insigneo Advisory Services LLC now owns 19,956 shares of the company’s stock valued at $1,342,000 after purchasing an additional 163 shares during the last quarter.

First Trust Rising Dividend Achievers ETF Stock Performance

Shares of NASDAQ RDVY opened at $74.50 on Friday. The stock has a 50 day moving average price of $70.79 and a 200 day moving average price of $69.74. First Trust Rising Dividend Achievers ETF has a 52 week low of $52.88 and a 52 week high of $74.96. The stock has a market capitalization of $21.72 billion, a PE ratio of 15.46 and a beta of 1.03.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a $0.1813 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, March 26th.

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.