First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Hits New 1-Year High – Still a Buy?

Shares of First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.15 and last traded at $47.1840, with a volume of 60823 shares trading hands. The stock had previously closed at $46.79.

First Trust Value Line Dividend Index Fund Stock Up 0.9%

The company has a market capitalization of $8.50 billion, a PE ratio of 18.85 and a beta of 0.73. The stock’s fifty day moving average price is $46.10 and its two-hundred day moving average price is $45.88.

Hedge Funds Weigh In On First Trust Value Line Dividend Index Fund

Several hedge funds have recently made changes to their positions in the business. Hilltop National Bank bought a new stake in First Trust Value Line Dividend Index Fund in the fourth quarter valued at $28,000. Quaker Wealth Management LLC lifted its position in shares of First Trust Value Line Dividend Index Fund by 200.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 827 shares of the company’s stock worth $37,000 after purchasing an additional 1,650 shares during the period. Winnow Wealth LLC bought a new stake in shares of First Trust Value Line Dividend Index Fund during the 2nd quarter valued at about $45,000. Bank of Montreal Can purchased a new position in shares of First Trust Value Line Dividend Index Fund during the second quarter valued at about $49,000. Finally, Caldwell Trust Co bought a new position in First Trust Value Line Dividend Index Fund in the second quarter worth about $54,000.

First Trust Value Line Dividend Index Fund Company Profile

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.