First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 12-Month High – Here’s What Happened

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) reached a new 52-week high on Wednesday . The stock traded as high as $53.54 and last traded at $53.5980, with a volume of 71949 shares changing hands. The stock had previously closed at $52.78.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.5%

The company has a fifty day simple moving average of $50.69 and a 200-day simple moving average of $50.29. The firm has a market cap of $8.07 billion, a P/E ratio of 13.96 and a beta of 0.58.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new position in First Trust Morningstar Dividend Leaders Index Fund during the first quarter valued at approximately $32,000. SouthState Bank Corp bought a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the first quarter worth approximately $32,000. Providence Capital Advisors LLC purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter worth $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter worth $37,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter worth $38,000.

First Trust Morningstar Dividend Leaders Index Fund 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. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.