Modern Wealth Management LLC Lowers Position in First Trust Rising Dividend Achievers ETF $RDVY

Modern Wealth Management LLC lessened its holdings in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 30.7% in the first quarter, HoldingsChannel.com reports. The fund owned 38,445 shares of the company’s stock after selling 17,070 shares during the period. Modern Wealth Management LLC’s holdings in First Trust Rising Dividend Achievers ETF were worth $2,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC increased its position in shares of 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 worth $2,119,121,000 after purchasing an additional 2,907,770 shares during the last quarter. Morgan Stanley lifted 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 valued at $1,400,025,000 after purchasing an additional 940,590 shares during the last quarter. Raymond James Financial Inc. lifted its position in First Trust Rising Dividend Achievers ETF by 2.2% during the fourth quarter. Raymond James Financial Inc. now owns 11,285,710 shares of the company’s stock valued at $784,018,000 after purchasing an additional 243,585 shares during the last quarter. Wells Fargo & Company MN grew its stake in First Trust Rising Dividend Achievers ETF by 10.6% in the 4th quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock worth $783,359,000 after buying an additional 1,076,558 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in First Trust Rising Dividend Achievers ETF by 15.7% in the 2nd 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 in the last quarter.

First Trust Rising Dividend Achievers ETF Price Performance

Shares of NASDAQ:RDVY opened at $79.98 on Friday. The company’s fifty day moving average price is $78.14 and its 200-day moving average price is $74.09. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00. First Trust Rising Dividend Achievers ETF has a one year low of $62.02 and a one year high of $81.36.

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 was Thursday, June 25th. This represents a $0.59 annualized dividend and a yield of 0.7%.

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.