Royal Bank of Canada Raises Stake in First Trust Rising Dividend Achievers ETF $RDVY

Royal Bank of Canada increased its stake in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,030,578 shares of the company’s stock after purchasing an additional 307,823 shares during the quarter. Royal Bank of Canada’s holdings in First Trust Rising Dividend Achievers ETF were worth $343,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 10.5% during the fourth quarter. LPL Financial LLC now owns 30,504,116 shares of the company’s stock worth $2,119,121,000 after buying an additional 2,907,770 shares in the last quarter. Morgan Stanley increased its holdings in First Trust Rising Dividend Achievers ETF by 4.9% in the fourth quarter. Morgan Stanley now owns 20,152,942 shares of the company’s stock valued at $1,400,025,000 after buying an additional 940,590 shares in the last quarter. Raymond James Financial Inc. increased its holdings in First Trust Rising Dividend Achievers ETF by 2.2% in the fourth quarter. Raymond James Financial Inc. now owns 11,285,710 shares of the company’s stock valued at $784,018,000 after buying an additional 243,585 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of First Trust Rising Dividend Achievers ETF by 10.6% during the 4th quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock valued at $783,359,000 after acquiring an additional 1,076,558 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of First Trust Rising Dividend Achievers ETF by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock worth $442,526,000 after acquiring an additional 957,587 shares in the last quarter.

First Trust Rising Dividend Achievers ETF Price Performance

RDVY opened at $79.81 on Thursday. First Trust Rising Dividend Achievers ETF has a 1-year low of $62.02 and a 1-year high of $81.36. The stock has a market cap of $24.36 billion, a P/E ratio of 15.46 and a beta of 1.00. The stock’s 50 day simple moving average is $78.54 and its 200 day simple moving average is $74.28.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.1474 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.7%.

First Trust Rising Dividend Achievers ETF 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.