First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Hits New 1-Year High – What’s Next?

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) hit a new 52-week high on Monday . The company traded as high as $49.27 and last traded at $48.7750, with a volume of 572708 shares traded. The stock had previously closed at $48.70.

First Trust Value Line Dividend Index Fund Stock Performance

The firm has a market cap of $8.74 billion, a P/E ratio of 18.85 and a beta of 0.73. The stock’s 50-day moving average is $46.93 and its 200 day moving average is $46.24.

Institutional Investors Weigh In On First Trust Value Line Dividend Index Fund

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of First Trust Value Line Dividend Index Fund by 52.7% in the 1st quarter. AQR Capital Management LLC now owns 33,775 shares of the company’s stock valued at $1,506,000 after purchasing an additional 11,657 shares during the period. Goldman Sachs Group Inc. lifted its stake in First Trust Value Line Dividend Index Fund by 21.3% in the first quarter. Goldman Sachs Group Inc. now owns 152,245 shares of the company’s stock valued at $6,789,000 after buying an additional 26,718 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of First Trust Value Line Dividend Index Fund by 1.4% in the second quarter. Apollon Wealth Management LLC now owns 16,543 shares of the company’s stock valued at $739,000 after buying an additional 224 shares during the period. Total Clarity Wealth Management Inc. increased its position in shares of First Trust Value Line Dividend Index Fund by 4.1% during the second quarter. Total Clarity Wealth Management Inc. now owns 5,648 shares of the company’s stock worth $252,000 after acquiring an additional 220 shares in the last quarter. Finally, SFG Wealth Management LLC. raised its holdings in shares of First Trust Value Line Dividend Index Fund by 7.7% during the second quarter. SFG Wealth Management LLC. now owns 11,513 shares of the company’s stock worth $515,000 after acquiring an additional 825 shares during the period.

About First Trust Value Line Dividend Index Fund

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.