First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sees Large Decline in Short Interest

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 103,762 shares, a decrease of 47.6% from the February 26th total of 197,978 shares. Based on an average daily volume of 2,042,256 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Trading of First Trust Rising Dividend Achievers ETF

Several institutional investors and hedge funds have recently made changes to their positions in RDVY. First Horizon Corp acquired a new stake in First Trust Rising Dividend Achievers ETF in the third quarter valued at approximately $25,000. Financial Perspectives Inc acquired a new position in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter valued at about $26,000. Huntington National Bank raised its position in shares of First Trust Rising Dividend Achievers ETF by 37,000.0% in the 4th quarter. Huntington National Bank now owns 371 shares of the company’s stock valued at $26,000 after purchasing an additional 370 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of First Trust Rising Dividend Achievers ETF in the 4th quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in First Trust Rising Dividend Achievers ETF during the 3rd quarter worth approximately $28,000.

First Trust Rising Dividend Achievers ETF Stock Performance

RDVY traded down $0.23 during trading on Friday, hitting $67.52. 485,481 shares of the stock were exchanged, compared to its average volume of 1,635,165. The firm has a 50 day simple moving average of $71.31 and a 200 day simple moving average of $69.28. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. First Trust Rising Dividend Achievers ETF has a 1 year low of $50.27 and a 1 year high of $73.54.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be paid a dividend of $0.1813 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.73 annualized dividend and a dividend yield of 1.1%.

About First Trust Rising Dividend Achievers ETF

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.