First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 12-Month High – Still a Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares hit a new 52-week high during trading on Thursday . The company traded as high as $73.43 and last traded at $72.2460, with a volume of 716368 shares traded. The stock had previously closed at $72.72.

First Trust Rising Dividend Achievers ETF Price Performance

The business has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $67.40. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10.

First Trust Rising Dividend Achievers ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a $0.1996 dividend. The ex-dividend date was Friday, December 12th. This is a positive change from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%.

Institutional Trading of First Trust Rising Dividend Achievers ETF

Institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in First Trust Rising Dividend Achievers ETF by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock valued at $442,526,000 after acquiring an additional 957,587 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of First Trust Rising Dividend Achievers ETF by 26.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,328,699 shares of the company’s stock worth $271,583,000 after purchasing an additional 907,673 shares during the last quarter. JPMorgan Chase & Co. lifted its position in First Trust Rising Dividend Achievers ETF by 74.0% in the third quarter. JPMorgan Chase & Co. now owns 1,707,049 shares of the company’s stock valued at $114,816,000 after buying an additional 725,742 shares during the last quarter. UBS Group AG lifted its position in First Trust Rising Dividend Achievers ETF by 12.2% in the third quarter. UBS Group AG now owns 5,740,264 shares of the company’s stock valued at $386,090,000 after buying an additional 624,936 shares during the last quarter. Finally, Prudential PLC purchased a new position in First Trust Rising Dividend Achievers ETF during the third quarter worth about $32,762,000.

About First Trust Rising Dividend Achievers ETF

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.