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

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 231,600 shares, a decrease of 40.6% from the July 15th total of 390,000 shares. Based on an average daily volume of 702,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RDVY. LPL Financial LLC lifted its holdings in shares of First Trust NASDAQ Rising Dividend Achievers by 3.7% during the 2nd quarter. LPL Financial LLC now owns 19,372,722 shares of the company’s stock valued at $1,060,656,000 after buying an additional 687,098 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Trust NASDAQ Rising Dividend Achievers by 1.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,955,014 shares of the company’s stock valued at $411,036,000 after buying an additional 79,637 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in First Trust NASDAQ Rising Dividend Achievers by 18.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,872,756 shares of the company’s stock worth $376,283,000 after purchasing an additional 1,084,117 shares during the period. Commonwealth Equity Services LLC raised its holdings in First Trust NASDAQ Rising Dividend Achievers by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,634,769 shares of the company’s stock worth $253,754,000 after purchasing an additional 210,398 shares during the period. Finally, Global Assets Advisory LLC raised its holdings in First Trust NASDAQ Rising Dividend Achievers by 5,315.6% in the 1st quarter. Global Assets Advisory LLC now owns 4,216,002 shares of the company’s stock worth $236,813,000 after purchasing an additional 4,138,153 shares during the period.

First Trust NASDAQ Rising Dividend Achievers Stock Up 1.2 %

Shares of NASDAQ RDVY traded up $0.68 during midday trading on Tuesday, reaching $55.60. The company had a trading volume of 461,242 shares, compared to its average volume of 748,736. First Trust NASDAQ Rising Dividend Achievers has a one year low of $43.30 and a one year high of $59.07. The firm’s fifty day moving average price is $55.52 and its 200-day moving average price is $54.46. The stock has a market cap of $11.06 billion, a PE ratio of 10.08 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were given a dividend of $0.2616 per share. This represents a $1.05 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, June 27th.

About First Trust NASDAQ Rising Dividend Achievers

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.