First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 52-Week High – Here’s Why

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.43 and last traded at $72.2460, with a volume of 716368 shares trading hands. The stock had previously closed at $72.72.

First Trust Rising Dividend Achievers ETF Trading Down 0.1%

The company’s fifty day moving average is $70.28 and its two-hundred day moving average is $67.40. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10.

First Trust Rising Dividend Achievers ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were issued a $0.1996 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. This is a boost from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of First Trust Rising Dividend Achievers ETF by 70.2% during the first quarter. AQR Capital Management LLC now owns 31,071 shares of the company’s stock worth $1,819,000 after buying an additional 12,820 shares during the period. Fifth Third Bancorp increased its position in shares of First Trust Rising Dividend Achievers ETF by 277.1% in the 2nd quarter. Fifth Third Bancorp now owns 3,545 shares of the company’s stock valued at $222,000 after purchasing an additional 2,605 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of First Trust Rising Dividend Achievers ETF by 34.2% in the 2nd quarter. Raleigh Capital Management Inc. now owns 648 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares in the last quarter. Truist Financial Corp raised its holdings in shares of First Trust Rising Dividend Achievers ETF by 44.3% in the 2nd quarter. Truist Financial Corp now owns 1,403,926 shares of the company’s stock valued at $88,082,000 after purchasing an additional 430,935 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of First Trust Rising Dividend Achievers ETF by 4.1% during the 2nd quarter. PFG Investments LLC now owns 8,986 shares of the company’s stock worth $564,000 after purchasing an additional 350 shares during the last quarter.

About First Trust Rising Dividend Achievers ETF

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.