First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Reaches New 52-Week High – Here’s What Happened

First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.95 and last traded at $42.93, with a volume of 2722 shares traded. The stock had previously closed at $42.02.

First Trust Morningstar Dividend Leaders Index Stock Performance

The company has a fifty day simple moving average of $41.77 and a 200 day simple moving average of $39.84. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.51 and a beta of 0.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC boosted its stake in First Trust Morningstar Dividend Leaders Index by 124.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 723 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 401 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in First Trust Morningstar Dividend Leaders Index during the third quarter worth about $39,000. Whittier Trust Co. of Nevada Inc. purchased a new position in First Trust Morningstar Dividend Leaders Index in the 2nd quarter valued at approximately $38,000. Blue Trust Inc. bought a new stake in First Trust Morningstar Dividend Leaders Index during the 3rd quarter valued at $46,000. Finally, Valley National Advisers Inc. grew its position in shares of First Trust Morningstar Dividend Leaders Index by 339.2% in the third quarter. Valley National Advisers Inc. now owns 2,534 shares of the exchange traded fund’s stock valued at $105,000 after purchasing an additional 1,957 shares in the last quarter.

First Trust Morningstar Dividend Leaders Index Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index.