Cornerstone Wealth LLC TN Invests $1.35 Million in First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Cornerstone Wealth LLC TN acquired a new stake in First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 31,919 shares of the company’s stock, valued at approximately $1,347,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in First Trust SMID Cap Rising Dividend Achievers ETF by 4.8% in the fourth quarter. LPL Financial LLC now owns 24,892,169 shares of the company’s stock worth $953,868,000 after purchasing an additional 1,135,800 shares during the last quarter. Morgan Stanley grew its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 0.7% during the fourth quarter. Morgan Stanley now owns 17,946,856 shares of the company’s stock valued at $687,724,000 after buying an additional 130,885 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 9.8% in the fourth quarter. Raymond James Financial Inc. now owns 14,105,263 shares of the company’s stock worth $540,514,000 after buying an additional 1,261,249 shares during the period. Bank of America Corp DE lifted its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 6.3% in the 1st quarter. Bank of America Corp DE now owns 9,463,585 shares of the company’s stock valued at $373,149,000 after acquiring an additional 564,137 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 7,943,362 shares of the company’s stock valued at $313,207,000 after acquiring an additional 227,423 shares during the last quarter.

First Trust SMID Cap Rising Dividend Achievers ETF Price Performance

Shares of SDVY stock opened at $43.66 on Thursday. The business has a 50-day moving average of $42.47 and a 200 day moving average of $41.52. First Trust SMID Cap Rising Dividend Achievers ETF has a 1-year low of $35.03 and a 1-year high of $44.19. The stock has a market capitalization of $11.53 billion, a PE ratio of 14.54 and a beta of 1.01.

First Trust SMID Cap Rising Dividend Achievers ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.0901 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.36 annualized dividend and a yield of 0.8%.

First Trust SMID Cap Rising Dividend Achievers ETF Profile

The First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of small- and mid-cap US companies with historically increasing dividends and that meet various fundamental criteria. SDVY was launched on Nov 1, 2017 and is managed by First Trust.