First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Trading 1.3% Higher – Should You Buy?

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) rose 1.3% during trading on Thursday . The company traded as high as $47.44 and last traded at $47.33. 3,778 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 5,157 shares. The stock had previously closed at $46.73.

First Trust Dorsey Wright Momentum & Dividend ETF Stock Down 0.3%

The firm has a market capitalization of $70.80 million, a price-to-earnings ratio of 17.21 and a beta of 0.91. The firm’s 50 day moving average is $45.20 and its 200 day moving average is $43.41.

First Trust Dorsey Wright Momentum & Dividend ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a $0.1843 dividend. This is an increase from First Trust Dorsey Wright Momentum & Dividend ETF’s previous quarterly dividend of $0.09. This represents a $0.74 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

A number of institutional investors and hedge funds have recently modified their holdings of DDIV. Sound Income Strategies LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter worth $42,000. Kestra Advisory Services LLC purchased a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the fourth quarter valued at $100,000. Western Wealth Management LLC purchased a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the first quarter valued at $146,000. Insight Advisors LLC PA purchased a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the fourth quarter valued at $201,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter valued at $201,000.

About First Trust Dorsey Wright Momentum & Dividend ETF

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.