Independent Advisor Alliance Purchases 103,932 Shares of First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)

Independent Advisor Alliance grew its position in First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) by 111.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,601 shares of the exchange traded fund’s stock after purchasing an additional 103,932 shares during the quarter. Independent Advisor Alliance owned approximately 0.19% of First Trust Morningstar Dividend Leaders Index worth $7,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC boosted its position in shares of First Trust Morningstar Dividend Leaders Index by 7.2% during the third quarter. LPL Financial LLC now owns 8,454,951 shares of the exchange traded fund’s stock worth $354,685,000 after acquiring an additional 566,772 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of First Trust Morningstar Dividend Leaders Index during the fourth quarter worth $127,327,000. Csenge Advisory Group boosted its position in shares of First Trust Morningstar Dividend Leaders Index by 0.8% during the fourth quarter. Csenge Advisory Group now owns 1,741,230 shares of the exchange traded fund’s stock worth $70,102,000 after acquiring an additional 13,574 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Trust Morningstar Dividend Leaders Index by 7.6% during the third quarter. JPMorgan Chase & Co. now owns 1,017,098 shares of the exchange traded fund’s stock worth $42,667,000 after acquiring an additional 71,997 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of First Trust Morningstar Dividend Leaders Index by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 580,744 shares of the exchange traded fund’s stock worth $23,381,000 after acquiring an additional 14,894 shares during the last quarter.

First Trust Morningstar Dividend Leaders Index Stock Performance

Shares of NYSEARCA:FDL opened at $43.74 on Tuesday. The firm has a fifty day moving average price of $41.78 and a 200 day moving average price of $41.84. First Trust Morningstar Dividend Leaders Index has a fifty-two week low of $36.31 and a fifty-two week high of $44.35. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 19.12 and a beta of 0.90.

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.