First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 52-Week High – Here’s Why

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $70.75 and last traded at $70.7440, with a volume of 191026 shares traded. The stock had previously closed at $70.47.

First Trust Rising Dividend Achievers ETF Stock Performance

The firm has a market cap of $18.50 billion, a P/E ratio of 15.46 and a beta of 1.10. The stock’s 50 day simple moving average is $67.95 and its 200 day simple moving average is $65.69.

First Trust Rising Dividend Achievers ETF Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be given a dividend of $0.1996 per share. The ex-dividend date of this dividend is Friday, December 12th. This is a boost from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.1%.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Large investors have recently added to or reduced their stakes in the business. First Horizon Corp bought a new stake in First Trust Rising Dividend Achievers ETF during the 3rd quarter worth approximately $25,000. Compass Financial Services Inc purchased a new position in shares of First Trust Rising Dividend Achievers ETF during the first quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. bought a new stake in First Trust Rising Dividend Achievers ETF during the second quarter worth $26,000. Cullen Frost Bankers Inc. purchased a new stake in First Trust Rising Dividend Achievers ETF in the 3rd quarter valued at $28,000. Finally, SVB Wealth LLC bought a new position in First Trust Rising Dividend Achievers ETF during the 1st quarter valued at $29,000.

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.