Waterfront Wealth Inc. Reduces Stake in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Waterfront Wealth Inc. lessened its position in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,265 shares of the company’s stock after selling 1,000 shares during the quarter. Waterfront Wealth Inc.’s holdings in First Trust NASDAQ Rising Dividend Achievers were worth $617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in First Trust NASDAQ Rising Dividend Achievers by 24,700.0% in the 1st quarter. BNP Paribas Financial Markets now owns 496 shares of the company’s stock worth $28,000 after purchasing an additional 494 shares during the period. Kings Path Partners LLC bought a new position in shares of First Trust NASDAQ Rising Dividend Achievers during the 2nd quarter valued at approximately $31,000. Russell Investments Group Ltd. bought a new position in shares of First Trust NASDAQ Rising Dividend Achievers during the 1st quarter valued at approximately $34,000. Rothschild Investment LLC purchased a new stake in First Trust NASDAQ Rising Dividend Achievers in the 2nd quarter worth approximately $34,000. Finally, Fifth Third Bancorp bought a new stake in First Trust NASDAQ Rising Dividend Achievers during the 1st quarter worth approximately $79,000.

First Trust NASDAQ Rising Dividend Achievers Price Performance

RDVY opened at $58.75 on Monday. First Trust NASDAQ Rising Dividend Achievers has a 1-year low of $43.30 and a 1-year high of $59.07. The company has a 50 day simple moving average of $56.28 and a two-hundred day simple moving average of $55.04. The firm has a market cap of $11.69 billion, a P/E ratio of 10.08 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were issued a dividend of $0.2616 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.05 dividend on an annualized basis and a yield of 1.78%.

First Trust NASDAQ Rising Dividend Achievers 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.