First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Reaches New 1-Year High – Still a Buy?

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.69 and last traded at $47.6530, with a volume of 49053 shares. The stock had previously closed at $47.37.

First Trust Value Line Dividend Index Fund Stock Up 0.3%

The stock’s 50 day moving average price is $46.37 and its 200-day moving average price is $46.00. The stock has a market capitalization of $8.48 billion, a P/E ratio of 18.85 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in First Trust Value Line Dividend Index Fund by 84.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,773,717 shares of the company’s stock worth $128,257,000 after purchasing an additional 1,266,968 shares during the last quarter. Ameriprise Financial Inc. grew its position in 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. Modern Wealth Management LLC purchased a new position in First Trust Value Line Dividend Index Fund during the second quarter valued at approximately $12,010,000. Concurrent Investment Advisors LLC increased its holdings in shares of First Trust Value Line Dividend Index Fund by 102.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 423,722 shares of the company’s stock valued at $18,940,000 after purchasing an additional 214,572 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in First Trust Value Line Dividend Index Fund by 378.8% during the second quarter. BNP Paribas Financial Markets now owns 245,520 shares of the company’s stock valued at $10,975,000 after buying an additional 194,243 shares during the period.

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.