First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 52-Week High – Still a Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $80.28 and last traded at $80.28, with a volume of 242 shares changing hands. The stock had previously closed at $78.58.

First Trust Rising Dividend Achievers ETF Price Performance

The stock’s fifty day moving average is $74.31 and its 200-day moving average is $71.95. The stock has a market cap of $23.39 billion, a PE ratio of 15.46 and a beta of 1.01.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a $0.1813 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 0.9%.

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

A number of hedge funds have recently modified their holdings of RDVY. Financial Perspectives Inc purchased a new stake in shares of First Trust Rising Dividend Achievers ETF in the fourth quarter valued at about $26,000. Huntington National Bank boosted its stake in First Trust Rising Dividend Achievers ETF by 37,000.0% during the fourth quarter. Huntington National Bank now owns 371 shares of the company’s stock worth $26,000 after buying an additional 370 shares during the period. Trust Co. of Vermont purchased a new position in First Trust Rising Dividend Achievers ETF during the fourth quarter worth about $27,000. United Community Bank purchased a new position in First Trust Rising Dividend Achievers ETF during the fourth quarter worth about $28,000. Finally, Bessemer Group Inc. purchased a new position in First Trust Rising Dividend Achievers ETF during the first quarter worth about $29,000.

First Trust Rising Dividend Achievers ETF Company 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.