FT Vest Rising Dividend Achievers Target Income ETF (BATS:RDVI) Reaches New 1-Year High – Here’s Why

FT Vest Rising Dividend Achievers Target Income ETF (BATS:RDVI) shares reached a new 52-week high on Tuesday . The stock traded as high as $29.70 and last traded at $29.55, with a volume of 110752 shares changing hands. The stock had previously closed at $29.40.

FT Vest Rising Dividend Achievers Target Income ETF Price Performance

The firm has a market cap of $2.47 billion, a PE ratio of 16.57 and a beta of 1.03. The business’s fifty day moving average is $28.73 and its 200-day moving average is $27.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its stake in FT Vest Rising Dividend Achievers Target Income ETF by 8.2% in the fourth quarter. LPL Financial LLC now owns 10,035,654 shares of the company’s stock valued at $263,336,000 after purchasing an additional 762,029 shares during the last quarter. Raymond James Financial Inc. increased its position in FT Vest Rising Dividend Achievers Target Income ETF by 16.0% in the third quarter. Raymond James Financial Inc. now owns 3,003,567 shares of the company’s stock worth $77,642,000 after buying an additional 414,227 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of FT Vest Rising Dividend Achievers Target Income ETF by 11.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,928,956 shares of the company’s stock valued at $76,856,000 after buying an additional 291,563 shares during the period. Royal Bank of Canada raised its stake in shares of FT Vest Rising Dividend Achievers Target Income ETF by 13.6% in the first quarter. Royal Bank of Canada now owns 2,478,696 shares of the company’s stock valued at $63,331,000 after buying an additional 296,590 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of FT Vest Rising Dividend Achievers Target Income ETF by 15.4% during the 1st quarter. Cetera Investment Advisers now owns 2,448,107 shares of the company’s stock valued at $62,549,000 after buying an additional 326,378 shares during the last quarter.

About FT Vest Rising Dividend Achievers Target Income ETF

The FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI) is an exchange-traded fund that is based on the NASDAQ US Rising Dividend Achievers index. The fund seeks to provide current income and capital appreciation by holding a portfolio of dividend-paying US equities, while utilizing a naked call writing strategy on the S&P 500 Index. RDVI was launched on Oct 19, 2022 and is managed by First Trust.