IFS Group LLC Makes New Investment in First Trust Rising Dividend Achievers ETF $RDVY

IFS Group LLC purchased a new stake in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,937 shares of the company’s stock, valued at approximately $2,863,000. First Trust Rising Dividend Achievers ETF makes up about 2.5% of IFS Group LLC’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds have also modified their holdings of the company. Basepoint Wealth LLC increased its stake in shares of First Trust Rising Dividend Achievers ETF by 4.5% in the first quarter. Basepoint Wealth LLC now owns 3,187 shares of the company’s stock worth $218,000 after purchasing an additional 136 shares in the last quarter. Retirement Planning Group LLC lifted its stake in shares of First Trust Rising Dividend Achievers ETF by 1.8% during the 1st quarter. Retirement Planning Group LLC now owns 8,013 shares of the company’s stock valued at $547,000 after buying an additional 138 shares in the last quarter. MBE Wealth Management LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 2.7% in the 1st quarter. MBE Wealth Management LLC now owns 6,798 shares of the company’s stock worth $464,000 after buying an additional 179 shares during the period. Castleview Partners LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 2.8% in the 1st quarter. Castleview Partners LLC now owns 6,898 shares of the company’s stock worth $471,000 after buying an additional 189 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 3.7% in the 4th quarter. Acorn Wealth Advisors LLC now owns 5,481 shares of the company’s stock worth $381,000 after buying an additional 197 shares during the period.

First Trust Rising Dividend Achievers ETF Stock Performance

Shares of RDVY stock opened at $81.03 on Wednesday. The stock has a fifty day simple moving average of $78.43 and a two-hundred day simple moving average of $74.23. First Trust Rising Dividend Achievers ETF has a 52-week low of $62.02 and a 52-week high of $81.36. The firm has a market capitalization of $24.73 billion, a PE ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.1474 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.59 annualized dividend and a dividend yield of 0.7%.

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.