First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sees Significant Decrease in Short Interest

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 197,978 shares, a decrease of 13.9% from the February 12th total of 229,870 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 1,185,631 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 1,185,631 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

First Trust Rising Dividend Achievers ETF Stock Performance

Shares of NASDAQ RDVY traded down $0.18 during mid-day trading on Wednesday, reaching $69.28. 417,321 shares of the company traded hands, compared to its average volume of 1,636,638. The company’s fifty day moving average is $71.80 and its two-hundred day moving average is $69.18. First Trust Rising Dividend Achievers ETF has a fifty-two week low of $50.27 and a fifty-two week high of $73.54. The stock has a market cap of $19.55 billion, a PE ratio of 15.46 and a beta of 1.10.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDVY. LPL Financial LLC boosted its holdings in shares of First Trust Rising Dividend Achievers ETF by 10.5% during the 4th quarter. LPL Financial LLC now owns 30,504,116 shares of the company’s stock worth $2,119,121,000 after buying an additional 2,907,770 shares during the period. Morgan Stanley raised its holdings in First Trust Rising Dividend Achievers ETF by 4.9% in the 4th quarter. Morgan Stanley now owns 20,152,942 shares of the company’s stock worth $1,400,025,000 after acquiring an additional 940,590 shares during the period. Raymond James Financial Inc. lifted its position in First Trust Rising Dividend Achievers ETF by 2.2% during the 4th quarter. Raymond James Financial Inc. now owns 11,285,710 shares of the company’s stock worth $784,018,000 after acquiring an additional 243,585 shares during the last quarter. Wells Fargo & Company MN lifted its position in First Trust Rising Dividend Achievers ETF by 10.6% during the 4th quarter. Wells Fargo & Company MN now owns 11,276,215 shares of the company’s stock worth $783,359,000 after acquiring an additional 1,076,558 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in First Trust Rising Dividend Achievers ETF by 10.1% during the third quarter. Ameriprise Financial Inc. now owns 7,790,897 shares of the company’s stock valued at $523,914,000 after acquiring an additional 716,800 shares during the period.

First Trust Rising Dividend Achievers ETF Company Profile

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.