First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Reaches New 12-Month High – Still a Buy?

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD)’s stock price hit a new 52-week high on Monday. The company traded as high as $51.42 and last traded at $51.39, with a volume of 329,294 shares traded. The stock had previously closed at $50.71.

First Trust Value Line Dividend Index Fund Stock Up 1.4%

The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 18.85 and a beta of 0.63. The stock has a fifty day moving average price of $49.04 and a 200-day moving average price of $48.57.

Institutional Trading of First Trust Value Line Dividend Index Fund

Several large investors have recently bought and sold shares of FVD. Commonwealth Equity Services LLC acquired a new position in First Trust Value Line Dividend Index Fund in the 3rd quarter valued at $82,726,000. D.A. Davidson & CO. acquired a new stake in shares of First Trust Value Line Dividend Index Fund during the third quarter worth $23,300,000. Gateway Wealth Partners LLC boosted its holdings in shares of First Trust Value Line Dividend Index Fund by 113.0% during the first quarter. Gateway Wealth Partners LLC now owns 452,776 shares of the company’s stock worth $21,294,000 after purchasing an additional 240,213 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of First Trust Value Line Dividend Index Fund in the third quarter valued at $7,564,000. Finally, Barrett & Company Inc. purchased a new stake in shares of First Trust Value Line Dividend Index Fund in the third quarter valued at $6,845,000.

About First Trust Value Line Dividend Index Fund

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.