First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 52-Week High – Still a Buy?

Shares of First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) hit a new 52-week high on Monday . The stock traded as high as $45.20 and last traded at $44.8520, with a volume of 240303 shares trading hands. The stock had previously closed at $44.75.

First Trust Morningstar Dividend Leaders Index Fund Stock Down 0.5%

The firm’s 50 day moving average is $43.85 and its 200-day moving average is $43.43. The firm has a market cap of $6.20 billion, a PE ratio of 13.96 and a beta of 0.73.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Institutional investors have recently bought and sold shares of the stock. GoalVest Advisory LLC acquired a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the 3rd quarter valued at $30,000. CX Institutional acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth $39,000. Crewe Advisors LLC purchased a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the 2nd quarter worth $56,000. Rossby Financial LCC boosted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 134.4% in the second quarter. Rossby Financial LCC now owns 1,983 shares of the exchange traded fund’s stock valued at $83,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Godsey & Gibb Inc. acquired a new position in First Trust Morningstar Dividend Leaders Index Fund in the third quarter valued at $90,000.

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.