First Trust Rising Dividend Achievers ETF $RDVY Shares Sold by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. lowered its stake in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 12.6% during the first quarter, Holdings Channel reports. The institutional investor owned 53,133 shares of the company’s stock after selling 7,657 shares during the period. First Trust Rising Dividend Achievers ETF comprises about 3.1% of Stegent Equity Advisors Inc.’s portfolio, making the stock its 7th biggest position. Stegent Equity Advisors Inc.’s holdings in First Trust Rising Dividend Achievers ETF were worth $3,628,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RDVY. LPL Financial LLC lifted its position 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 valued at $2,119,121,000 after acquiring an additional 2,907,770 shares during the period. Wells Fargo & Company MN grew its holdings in shares of First Trust Rising Dividend Achievers ETF by 10.6% in 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 period. Ameriprise Financial Inc. increased its stake in First Trust Rising Dividend Achievers ETF by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock valued at $442,526,000 after purchasing an additional 957,587 shares in the last quarter. Morgan Stanley increased its stake 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 valued at $1,400,025,000 after purchasing an additional 940,590 shares in the last quarter. Finally, Arax Advisory Partners acquired a new position in First Trust Rising Dividend Achievers ETF during the fourth quarter worth $47,643,000.

First Trust Rising Dividend Achievers ETF Stock Performance

RDVY opened at $80.58 on Thursday. The business’s fifty day moving average is $76.27 and its two-hundred day moving average is $72.93. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 15.46 and a beta of 1.01. First Trust Rising Dividend Achievers ETF has a one year low of $61.84 and a one year high of $81.36.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.1474 per share. This represents a $0.59 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 25th.

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.