First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 1-Year High – What’s Next?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) shares hit a new 52-week high during trading on Friday. The stock traded as high as $54.18 and last traded at $53.7970, with a volume of 62,461 shares. The stock had previously closed at $53.26.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.1%

The stock’s fifty day simple moving average is $51.58 and its two-hundred day simple moving average is $50.38. The firm has a market cap of $8.38 billion, a PE ratio of 13.96 and a beta of 0.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 7.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,524,238 shares of the exchange traded fund’s stock valued at $74,169,000 after acquiring an additional 104,421 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.9% in the first quarter. Private Advisor Group LLC now owns 1,219,939 shares of the exchange traded fund’s stock worth $61,973,000 after buying an additional 34,464 shares in the last quarter. Kestra Advisory Services LLC boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 46.1% during the first quarter. Kestra Advisory Services LLC now owns 696,641 shares of the exchange traded fund’s stock worth $35,389,000 after acquiring an additional 219,965 shares during the last quarter. D.A. Davidson & CO. grew its stake in First Trust Morningstar Dividend Leaders Index Fund by 10.7% during the 1st quarter. D.A. Davidson & CO. now owns 441,547 shares of the exchange traded fund’s stock valued at $22,431,000 after acquiring an additional 42,785 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in First Trust Morningstar Dividend Leaders Index Fund by 16.6% in the 2nd quarter. RFG Advisory LLC now owns 384,975 shares of the exchange traded fund’s stock valued at $18,733,000 after acquiring an additional 54,704 shares during the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

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.