First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) Shares Up 1.7% – Should You Buy?

Shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) shot up 1.7% during trading on Friday . The company traded as high as $42.65 and last traded at $42.60. 7,289 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 6,186 shares. The stock had previously closed at $41.90.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Stock Performance

The firm’s 50-day moving average price is $40.87 and its 200 day moving average price is $38.88. The company has a market cap of $66.03 million, a price-to-earnings ratio of 16.58 and a beta of 0.87.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.3057 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.9%. This is an increase from First Trust S&P 500 Diversified Dividend Aristocrats ETF’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, June 25th.

Hedge Funds Weigh In On First Trust S&P 500 Diversified Dividend Aristocrats ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP lifted its holdings in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 94.1% during the third quarter. Susquehanna International Group LLP now owns 28,031 shares of the company’s stock worth $1,004,000 after acquiring an additional 13,590 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 18.4% in the fourth quarter. Osaic Holdings Inc. now owns 52,239 shares of the company’s stock worth $1,871,000 after acquiring an additional 8,132 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 2.5% in the third quarter. Envestnet Asset Management Inc. now owns 16,414 shares of the company’s stock worth $588,000 after acquiring an additional 399 shares in the last quarter. Cetera Investment Advisers raised its position in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 23.6% during the fourth quarter. Cetera Investment Advisers now owns 14,733 shares of the company’s stock worth $528,000 after purchasing an additional 2,813 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,336 shares of the company’s stock valued at $397,000 after purchasing an additional 2,964 shares in the last quarter.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Company Profile

The First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a sector-neutral US large-cap index selected and weighted based on dividend history and yield. KNGZ was launched on Jun 20, 2017 and is issued by First Trust.