First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Trading Down 0.9% – Here’s Why

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV)’s stock price was down 0.9% during trading on Thursday . The company traded as low as $46.96 and last traded at $47.02. Approximately 3,906 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 6,068 shares. The stock had previously closed at $47.47.

First Trust Dorsey Wright Momentum & Dividend ETF Stock Performance

The firm has a market capitalization of $75.23 million, a PE ratio of 17.21 and a beta of 0.91. The stock has a fifty day moving average price of $45.86 and a 200-day moving average price of $43.89.

First Trust Dorsey Wright Momentum & Dividend ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.1843 per share. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust Dorsey Wright Momentum & Dividend ETF’s previous quarterly dividend of $0.09. This represents a $0.74 annualized dividend and a dividend yield of 1.6%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 13.0% in the third quarter. Envestnet Asset Management Inc. now owns 9,068 shares of the company’s stock worth $364,000 after purchasing an additional 1,041 shares during the last quarter. UBS Group AG boosted its position in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 25.3% in the 3rd quarter. UBS Group AG now owns 20,251 shares of the company’s stock worth $814,000 after purchasing an additional 4,095 shares in the last quarter. Raymond James Financial Inc. grew its stake in First Trust Dorsey Wright Momentum & Dividend ETF by 10.9% during the 3rd quarter. Raymond James Financial Inc. now owns 23,306 shares of the company’s stock worth $937,000 after buying an additional 2,285 shares during the last quarter. Bank of America Corp DE increased its position in First Trust Dorsey Wright Momentum & Dividend ETF by 6.0% during the 3rd quarter. Bank of America Corp DE now owns 20,131 shares of the company’s stock valued at $809,000 after buying an additional 1,148 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in First Trust Dorsey Wright Momentum & Dividend ETF in the fourth quarter valued at about $42,000.

First Trust Dorsey Wright Momentum & Dividend ETF Company Profile

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.