First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 1-Year High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $83.99 and last traded at $83.34, with a volume of 1241600 shares changing hands. The stock had previously closed at $83.20.

First Trust Rising Dividend Achievers ETF Trading Up 0.1%

The stock’s 50-day moving average is $79.51 and its 200-day moving average is $74.76. The firm has a market capitalization of $25.55 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1474 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.59 annualized dividend and a dividend yield of 0.7%.

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds have recently modified their holdings of RDVY. Trust Co. of Vermont acquired a new position in First Trust Rising Dividend Achievers ETF in the 2nd quarter worth about $116,000. Cary Street Partners Financial LLC boosted its stake in shares of First Trust Rising Dividend Achievers ETF by 10.8% during the second quarter. Cary Street Partners Financial LLC now owns 43,493 shares of the company’s stock valued at $3,526,000 after purchasing an additional 4,225 shares in the last quarter. Vaquero Private Wealth Ltd. acquired a new stake in shares of First Trust Rising Dividend Achievers ETF during the second quarter valued at about $392,000. Farther Finance Advisors LLC grew its holdings in shares of First Trust Rising Dividend Achievers ETF by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 168,167 shares of the company’s stock worth $13,631,000 after purchasing an additional 2,103 shares during the last quarter. Finally, O Connor Financial Group LLC grew its holdings in shares of First Trust Rising Dividend Achievers ETF by 0.9% during the second quarter. O Connor Financial Group LLC now owns 156,498 shares of the company’s stock worth $12,686,000 after purchasing an additional 1,339 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.