First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Hits New 1-Year High – Here’s Why

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s share price hit a new 52-week high on Tuesday . The company traded as high as $50.36 and last traded at $50.2280, with a volume of 98580 shares traded. The stock had previously closed at $50.18.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

The company has a 50 day moving average of $45.63 and a 200 day moving average of $44.15. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 13.96 and a beta of 0.73.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GoalVest Advisory LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the third quarter valued at $30,000. CX Institutional purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter worth approximately $39,000. First Horizon Corp raised its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 519.7% in the 4th quarter. First Horizon Corp now owns 880 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 738 shares in the last quarter. Crewe Advisors LLC acquired a new stake in First Trust Morningstar Dividend Leaders Index Fund in the second quarter valued at $56,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in First Trust Morningstar Dividend Leaders Index Fund by 44.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,781 shares of the exchange traded fund’s stock worth $79,000 after purchasing an additional 552 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.