First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sets New 52-Week High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)’s share price hit a new 52-week high on Thursday . The company traded as high as $73.05 and last traded at $72.8350, with a volume of 160428 shares. The stock had previously closed at $71.99.

First Trust Rising Dividend Achievers ETF Stock Up 1.4%

The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. The firm has a fifty day moving average price of $69.21 and a 200-day moving average price of $66.76.

First Trust Rising Dividend Achievers ETF Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDVY. AQR Capital Management LLC increased its position in First Trust Rising Dividend Achievers ETF by 70.2% during the first quarter. AQR Capital Management LLC now owns 31,071 shares of the company’s stock worth $1,819,000 after purchasing an additional 12,820 shares during the last quarter. Balefire LLC acquired a new stake in shares of First Trust Rising Dividend Achievers ETF during the 2nd quarter worth $1,948,000. Keystone Wealth Services LLC raised its position in shares of First Trust Rising Dividend Achievers ETF by 58.9% in the 2nd quarter. Keystone Wealth Services LLC now owns 11,189 shares of the company’s stock worth $702,000 after buying an additional 4,146 shares during the period. GSG Advisors LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 2.8% in the second quarter. GSG Advisors LLC now owns 171,103 shares of the company’s stock valued at $10,735,000 after acquiring an additional 4,604 shares during the last quarter. Finally, Lineweaver Wealth Advisors LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 0.7% in the second quarter. Lineweaver Wealth Advisors LLC now owns 78,119 shares of the company’s stock valued at $4,901,000 after acquiring an additional 512 shares during the last quarter.

First Trust Rising Dividend Achievers ETF Company Profile

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.