First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 1-Year High – What’s Next?

Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) hit a new 52-week high during trading on Thursday . The stock traded as high as $84.01 and last traded at $83.83, with a volume of 169018 shares changing hands. The stock had previously closed at $83.56.

First Trust Rising Dividend Achievers ETF Price Performance

The company’s 50 day simple moving average is $79.97 and its 200 day simple moving average is $75.01. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.1474 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.59 annualized dividend and a yield of 0.7%.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds and other institutional investors have recently made changes to their positions in RDVY. O Connor Financial Group LLC acquired a new position in First Trust Rising Dividend Achievers ETF during the fourth quarter worth $10,958,000. J.W. Cole Advisors Inc. lifted its holdings in First Trust Rising Dividend Achievers ETF by 16.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 105,998 shares of the company’s stock valued at $7,334,000 after acquiring an additional 14,615 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the 4th quarter worth $628,000. Koshinski Asset Management Inc. boosted its position in shares of First Trust Rising Dividend Achievers ETF by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 568,144 shares of the company’s stock worth $39,469,000 after purchasing an additional 17,317 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of First Trust Rising Dividend Achievers ETF by 122.9% during the 4th quarter. Ignite Planners LLC now owns 38,362 shares of the company’s stock worth $2,772,000 after purchasing an additional 21,155 shares in 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.