Independent Financial Group LLC Buys Shares of 271,821 First Trust Rising Dividend Achievers ETF $RDVY

Independent Financial Group LLC purchased a new position in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 271,821 shares of the company’s stock, valued at approximately $18,560,000. First Trust Rising Dividend Achievers ETF accounts for about 0.6% of Independent Financial Group LLC’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Prosperity Consulting Group LLC increased its position in First Trust Rising Dividend Achievers ETF by 2.5% in the first quarter. Prosperity Consulting Group LLC now owns 18,959 shares of the company’s stock worth $1,295,000 after buying an additional 454 shares during the period. Gaddis Premier Wealth Advisors LLC lifted its position in First Trust Rising Dividend Achievers ETF by 1.0% in the 1st quarter. Gaddis Premier Wealth Advisors LLC now owns 128,736 shares of the company’s stock valued at $8,790,000 after purchasing an additional 1,293 shares during the last quarter. Rockport Wealth LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 38.3% during the 1st quarter. Rockport Wealth LLC now owns 119,491 shares of the company’s stock valued at $8,159,000 after purchasing an additional 33,098 shares during the period. D.A. Davidson & CO. boosted its stake in First Trust Rising Dividend Achievers ETF by 8.1% during the 1st quarter. D.A. Davidson & CO. now owns 952,581 shares of the company’s stock valued at $65,042,000 after purchasing an additional 71,573 shares during the period. Finally, RFG Bristol Wealth Advisors LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 40.8% during the 1st quarter. RFG Bristol Wealth Advisors LLC now owns 78,991 shares of the company’s stock valued at $5,394,000 after purchasing an additional 22,870 shares during the period.

First Trust Rising Dividend Achievers ETF Trading Up 0.4%

NASDAQ RDVY opened at $80.45 on Friday. The company has a 50-day moving average price of $77.44 and a two-hundred day moving average price of $73.69. First Trust Rising Dividend Achievers ETF has a 52 week low of $62.02 and a 52 week high of $81.36. The stock has a market cap of $24.44 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

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

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.