First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sets New 52-Week High – Should You Buy?

Shares of First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $118.28 and last traded at $116.99, with a volume of 81079 shares changing hands. The stock had previously closed at $117.84.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

The company has a market capitalization of $4.43 billion, a P/E ratio of 25.63 and a beta of 1.12. The firm has a fifty day moving average price of $103.70 and a 200-day moving average price of $99.92.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.3153 per share. This represents a $1.26 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, March 26th.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of TDIV. Mainstay Capital Management LLC ADV bought a new position in First Trust NASDAQ Technology Dividend Index Fund during the third quarter valued at $94,836,000. Raymond James Financial Inc. grew its holdings in First Trust NASDAQ Technology Dividend Index Fund by 17.1% during the second quarter. Raymond James Financial Inc. now owns 1,386,401 shares of the company’s stock valued at $125,012,000 after purchasing an additional 202,281 shares during the period. IFP Advisors Inc grew its holdings in First Trust NASDAQ Technology Dividend Index Fund by 317.3% during the third quarter. IFP Advisors Inc now owns 173,548 shares of the company’s stock valued at $17,110,000 after purchasing an additional 131,955 shares during the period. Kestra Advisory Services LLC grew its holdings in First Trust NASDAQ Technology Dividend Index Fund by 203.8% during the first quarter. Kestra Advisory Services LLC now owns 183,492 shares of the company’s stock valued at $17,186,000 after purchasing an additional 123,094 shares during the period. Finally, Bank of America Corp DE grew its holdings in First Trust NASDAQ Technology Dividend Index Fund by 7.6% during the first quarter. Bank of America Corp DE now owns 1,485,495 shares of the company’s stock valued at $139,131,000 after purchasing an additional 104,853 shares during the period.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.