Summit Financial Wealth Advisors LLC Grows Stake in First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)

Summit Financial Wealth Advisors LLC lifted its stake in First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 208,142 shares of the exchange traded fund’s stock after acquiring an additional 3,934 shares during the quarter. First Trust Morningstar Dividend Leaders Index comprises approximately 1.6% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 20th largest position. Summit Financial Wealth Advisors LLC’s holdings in First Trust Morningstar Dividend Leaders Index were worth $8,732,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LPL Financial LLC boosted its stake in shares of First Trust Morningstar Dividend Leaders Index by 7.2% during the 3rd quarter. LPL Financial LLC now owns 8,454,951 shares of the exchange traded fund’s stock valued at $354,685,000 after buying an additional 566,772 shares during the last quarter. International Assets Investment Management LLC increased its stake in First Trust Morningstar Dividend Leaders Index by 4,114.5% during the third quarter. International Assets Investment Management LLC now owns 5,452,833 shares of the exchange traded fund’s stock valued at $228,746,000 after purchasing an additional 5,323,451 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of First Trust Morningstar Dividend Leaders Index by 1,056.4% during the first quarter. Cetera Investment Advisers now owns 2,077,685 shares of the exchange traded fund’s stock worth $79,949,000 after purchasing an additional 1,898,023 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of First Trust Morningstar Dividend Leaders Index by 9.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,941,020 shares of the exchange traded fund’s stock worth $73,623,000 after buying an additional 167,698 shares during the last quarter. Finally, Csenge Advisory Group raised its stake in First Trust Morningstar Dividend Leaders Index by 6.1% during the second quarter. Csenge Advisory Group now owns 1,740,756 shares of the exchange traded fund’s stock worth $66,027,000 after acquiring an additional 99,653 shares during the period.

First Trust Morningstar Dividend Leaders Index Price Performance

Shares of FDL opened at $43.66 on Tuesday. The stock has a fifty day moving average price of $42.08 and a 200 day moving average price of $40.31. The company has a market cap of $4.55 billion, a P/E ratio of 12.51 and a beta of 0.73. First Trust Morningstar Dividend Leaders Index has a 12 month low of $33.83 and a 12 month high of $43.85.

First Trust Morningstar Dividend Leaders Index 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.