First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 52-Week High – Time to Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.50 and last traded at $46.4560, with a volume of 1778987 shares. The stock had previously closed at $45.81.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.4%

The company has a market capitalization of $6.47 billion, a P/E ratio of 13.96 and a beta of 0.73. The business’s 50-day moving average is $44.43 and its two-hundred day moving average is $43.66.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 17.8% during the second quarter. Ameriprise Financial Inc. now owns 3,911,177 shares of the exchange traded fund’s stock valued at $163,766,000 after acquiring an additional 590,206 shares during the last quarter. Raymond James Financial Inc. grew its stake in First Trust Morningstar Dividend Leaders Index Fund by 10.8% in the 2nd quarter. Raymond James Financial Inc. now owns 4,226,227 shares of the exchange traded fund’s stock valued at $176,952,000 after purchasing an additional 411,724 shares during the period. Osaic Holdings Inc. increased its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 35.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,492,128 shares of the exchange traded fund’s stock valued at $62,481,000 after purchasing an additional 388,747 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 11.5% during the 2nd quarter. Cetera Investment Advisers now owns 2,075,810 shares of the exchange traded fund’s stock worth $86,914,000 after purchasing an additional 213,565 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 18.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,263,811 shares of the exchange traded fund’s stock worth $52,916,000 after buying an additional 194,482 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.