First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Reaches New 12-Month High – Here’s Why

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) hit a new 52-week high on Monday . The stock traded as high as $47.86 and last traded at $47.6350, with a volume of 1444551 shares changing hands. The stock had previously closed at $46.87.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

The firm has a 50 day moving average price of $44.97 and a two-hundred day moving average price of $43.88. The company has a market cap of $6.59 billion, a P/E ratio of 13.96 and a beta of 0.73.

Institutional Trading of First Trust Morningstar Dividend Leaders Index Fund

Institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new stake in First Trust Morningstar Dividend Leaders Index Fund during the 1st quarter valued at $202,000. Ergawealth Advisors Inc. lifted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 15.3% during the 2nd quarter. Ergawealth Advisors Inc. now owns 39,000 shares of the exchange traded fund’s stock worth $1,633,000 after purchasing an additional 5,176 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in First Trust Morningstar Dividend Leaders Index Fund in the 2nd quarter worth about $260,000. Beacon Financial Advisory LLC boosted its stake in First Trust Morningstar Dividend Leaders Index Fund by 247.1% in the 2nd quarter. Beacon Financial Advisory LLC now owns 23,345 shares of the exchange traded fund’s stock worth $977,000 after purchasing an additional 16,619 shares during the period. Finally, Valley National Advisers Inc. grew its holdings in First Trust Morningstar Dividend Leaders Index Fund by 17.5% during the 2nd quarter. Valley National Advisers Inc. now owns 6,276 shares of the exchange traded fund’s stock valued at $262,000 after buying an additional 935 shares in 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.