First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Share Price Passes Above 200-Day Moving Average – Here’s Why

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $45.63 and traded as high as $50.11. First Trust Morningstar Dividend Leaders Index Fund shares last traded at $49.90, with a volume of 1,003,700 shares trading hands.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

The stock has a market capitalization of $7.01 billion, a PE ratio of 13.96 and a beta of 0.73. The firm has a 50 day moving average of $49.37 and a 200-day moving average of $45.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Summit Financial Wealth Advisors LLC boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 3.9% during the second quarter. Summit Financial Wealth Advisors LLC now owns 230,224 shares of the exchange traded fund’s stock valued at $9,639,000 after purchasing an additional 8,583 shares during the last quarter. Milestones Private Investment Advisors LLC acquired a new position in First Trust Morningstar Dividend Leaders Index Fund in the 2nd quarter worth about $1,505,000. Fortitude Financial LLC acquired a new position in First Trust Morningstar Dividend Leaders Index Fund in the 2nd quarter worth about $1,026,000. Tyler Stone Wealth Management increased its position in First Trust Morningstar Dividend Leaders Index Fund by 2.5% in the 2nd quarter. Tyler Stone Wealth Management now owns 9,995 shares of the exchange traded fund’s stock worth $419,000 after purchasing an additional 240 shares during the last quarter. Finally, Blue Capital Inc. purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the 2nd quarter worth about $1,252,000.

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.