First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) Trading 1.8% Higher – Here’s Why

Shares of First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) were up 1.8% during mid-day trading on Tuesday . The company traded as high as $42.29 and last traded at $42.20. Approximately 5,808 shares were traded during trading, a decline of 6% from the average session volume of 6,193 shares. The stock had previously closed at $41.45.

First Trust Dorsey Wright Momentum & Value ETF Trading Down 1.3%

The firm has a market capitalization of $47.81 million, a P/E ratio of 14.02 and a beta of 1.03. The firm has a 50 day moving average price of $39.98 and a 200-day moving average price of $37.53.

First Trust Dorsey Wright Momentum & Value ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a $0.0992 dividend. This is a boost from First Trust Dorsey Wright Momentum & Value ETF’s previous quarterly dividend of $0.03. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, June 25th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DVLU. Cetera Investment Advisers raised its stake in shares of First Trust Dorsey Wright Momentum & Value ETF by 13.8% in the first quarter. Cetera Investment Advisers now owns 31,183 shares of the company’s stock valued at $1,067,000 after acquiring an additional 3,785 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of First Trust Dorsey Wright Momentum & Value ETF by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,889 shares of the company’s stock worth $338,000 after purchasing an additional 349 shares during the period. Equitable Holdings Inc. bought a new position in First Trust Dorsey Wright Momentum & Value ETF during the 4th quarter valued at about $315,000. Osaic Holdings Inc. grew its holdings in First Trust Dorsey Wright Momentum & Value ETF by 11.0% during the 4th quarter. Osaic Holdings Inc. now owns 175,648 shares of the company’s stock valued at $6,280,000 after purchasing an additional 17,450 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in First Trust Dorsey Wright Momentum & Value ETF by 94.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 15,968 shares of the company’s stock worth $571,000 after purchasing an additional 7,765 shares during the period.

About First Trust Dorsey Wright Momentum & Value ETF

The First Trust Dorsey Wright Momentum & Value ETF (DVLU) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Value index. The fund tracks an index of 50 large- and mid-cap value stocks exhibiting relative strength. Holdings are weighted by value metrics. DVLU was launched on Sep 5, 2018 and is managed by First Trust.