First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 12-Month High – Still a Buy?

Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) hit a new 52-week high on Wednesday . The company traded as high as $70.75 and last traded at $70.7440, with a volume of 191026 shares. The stock had previously closed at $70.47.

First Trust Rising Dividend Achievers ETF Stock Up 0.5%

The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. The company has a 50 day simple moving average of $67.95 and a 200-day simple moving average of $65.69.

First Trust Rising Dividend Achievers ETF Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be paid a dividend of $0.1996 per share. This is a boost from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, December 12th.

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds and other institutional investors have recently bought and sold shares of RDVY. Confluence Wealth Services Inc. boosted its position in shares of First Trust Rising Dividend Achievers ETF by 1.2% during the 3rd quarter. Confluence Wealth Services Inc. now owns 12,638 shares of the company’s stock worth $850,000 after purchasing an additional 153 shares in the last quarter. Allworth Financial LP raised its stake in First Trust Rising Dividend Achievers ETF by 0.3% during the 3rd quarter. Allworth Financial LP now owns 59,767 shares of the company’s stock worth $4,020,000 after buying an additional 159 shares during the period. Howard Bailey Securities LLC boosted its holdings in First Trust Rising Dividend Achievers ETF by 4.6% in the third quarter. Howard Bailey Securities LLC now owns 3,673 shares of the company’s stock worth $247,000 after acquiring an additional 160 shares in the last quarter. WealthCare Investment Partners LLC grew its stake in First Trust Rising Dividend Achievers ETF by 0.3% in the second quarter. WealthCare Investment Partners LLC now owns 59,562 shares of the company’s stock valued at $3,799,000 after acquiring an additional 161 shares during the period. Finally, Insigneo Advisory Services LLC increased its holdings in shares of First Trust Rising Dividend Achievers ETF by 0.8% during the third quarter. Insigneo Advisory Services LLC now owns 19,956 shares of the company’s stock valued at $1,342,000 after acquiring an additional 163 shares in the last quarter.

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.