First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 12-Month High – Time to Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $54.18 and last traded at $53.7970, with a volume of 62,461 shares trading hands. The stock had previously closed at $53.26.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.1%

The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 13.96 and a beta of 0.58. The business’s fifty day moving average is $51.58 and its two-hundred day moving average is $50.38.

Institutional Trading of First Trust Morningstar Dividend Leaders Index Fund

A number of institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. acquired a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the 3rd quarter valued at $20,203,000. Perryman Financial Advisory Inc. AD purchased a new position in First Trust Morningstar Dividend Leaders Index Fund during the third quarter worth about $11,658,000. Kestra Advisory Services LLC lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 46.1% in the 1st quarter. Kestra Advisory Services LLC now owns 696,641 shares of the exchange traded fund’s stock valued at $35,389,000 after buying an additional 219,965 shares during the period. Sigma Planning Corp acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter valued at approximately $6,924,000. Finally, Envestnet Asset Management Inc. grew its stake in First Trust Morningstar Dividend Leaders Index Fund by 7.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,524,238 shares of the exchange traded fund’s stock valued at $74,169,000 after acquiring an additional 104,421 shares during the last quarter.

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.