First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Reaches New 52-Week High – Should You Buy?

Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) hit a new 52-week high during trading on Thursday . The company traded as high as $84.01 and last traded at $83.83, with a volume of 169018 shares traded. The stock had previously closed at $83.56.

First Trust Rising Dividend Achievers ETF Price Performance

The firm has a market cap of $25.72 billion, a P/E ratio of 15.46 and a beta of 1.00. The business’s 50-day moving average is $80.28 and its two-hundred day moving average is $75.16.

First Trust Rising Dividend Achievers ETF Cuts Dividend

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

Institutional Trading of First Trust Rising Dividend Achievers ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in First Trust Rising Dividend Achievers ETF by 10.5% in the fourth quarter. LPL Financial LLC now owns 30,504,116 shares of the company’s stock valued at $2,119,121,000 after acquiring an additional 2,907,770 shares during the last quarter. Wells Fargo & Company MN grew its holdings in First Trust Rising Dividend Achievers ETF by 10.6% during the fourth quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock worth $783,359,000 after purchasing an additional 1,076,558 shares during the period. Ameriprise Financial Inc. increased its position in First Trust Rising Dividend Achievers ETF by 15.7% during the second quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock worth $442,526,000 after buying an additional 957,587 shares during the last quarter. Morgan Stanley increased its position in First Trust Rising Dividend Achievers ETF by 4.9% during the fourth quarter. Morgan Stanley now owns 20,152,942 shares of the company’s stock worth $1,400,025,000 after buying an additional 940,590 shares during the last quarter. Finally, Arax Advisory Partners bought a new stake in First Trust Rising Dividend Achievers ETF in the fourth quarter valued at approximately $47,643,000.

First Trust Rising Dividend Achievers ETF Company 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.