First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Hits New 12-Month High – Here’s Why

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD)’s share price reached a new 52-week high on Wednesday . The company traded as high as $47.15 and last traded at $47.1840, with a volume of 60823 shares. The stock had previously closed at $46.79.

First Trust Value Line Dividend Index Fund Stock Performance

The stock’s fifty day moving average is $46.10 and its 200 day moving average is $45.88. The stock has a market cap of $8.50 billion, a P/E ratio of 18.85 and a beta of 0.73.

Institutional Investors Weigh In On First Trust Value Line Dividend Index Fund

Several institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its stake in shares of First Trust Value Line Dividend Index Fund by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,579,921 shares of the company’s stock worth $249,413,000 after purchasing an additional 758,020 shares during the period. UBS Group AG lifted its stake in First Trust Value Line Dividend Index Fund by 2.4% in the third quarter. UBS Group AG now owns 3,906,667 shares of the company’s stock worth $180,644,000 after purchasing an additional 91,095 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Trust Value Line Dividend Index Fund by 84.1% during the third quarter. JPMorgan Chase & Co. now owns 2,773,717 shares of the company’s stock valued at $128,257,000 after buying an additional 1,266,968 shares during the period. HighTower Advisors LLC boosted its position in shares of First Trust Value Line Dividend Index Fund by 1.2% during the third quarter. HighTower Advisors LLC now owns 1,880,046 shares of the company’s stock valued at $86,933,000 after buying an additional 22,359 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of First Trust Value Line Dividend Index Fund by 3.5% during the second quarter. Baird Financial Group Inc. now owns 1,141,242 shares of the company’s stock valued at $51,014,000 after buying an additional 38,742 shares during the last quarter.

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.