First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 52-Week High – What’s Next?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.74 and last traded at $45.5180, with a volume of 289707 shares. The stock had previously closed at $45.39.

First Trust Morningstar Dividend Leaders Index Fund Trading Up 0.1%

The company has a market cap of $6.30 billion, a price-to-earnings ratio of 13.96 and a beta of 0.73. The business has a 50-day moving average price of $44.05 and a 200 day moving average price of $43.52.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FDL. GoalVest Advisory LLC acquired a new stake in First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth about $30,000. CX Institutional purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the third quarter valued at $39,000. Crewe Advisors LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the second quarter worth $56,000. Rossby Financial LCC boosted its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 134.4% in the second quarter. Rossby Financial LCC now owns 1,983 shares of the exchange traded fund’s stock worth $83,000 after buying an additional 1,137 shares during the period. Finally, Godsey & Gibb Inc. purchased a new position in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter valued at $90,000.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.