Pinnacle Associates Ltd. Purchases 66,370 Shares of First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Pinnacle Associates Ltd. increased its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) by 39.8% during the 3rd quarter, Holdings Channel reports. The firm owned 233,252 shares of the company’s stock after purchasing an additional 66,370 shares during the quarter. Pinnacle Associates Ltd.’s holdings in First Trust SMID Cap Rising Dividend Achievers ETF were worth $8,868,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SDVY. Silver Oak Securities Incorporated boosted its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 54.8% in the 3rd quarter. Silver Oak Securities Incorporated now owns 87,799 shares of the company’s stock worth $3,338,000 after buying an additional 31,072 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 17.1% during the third quarter. Commonwealth Equity Services LLC now owns 3,384,431 shares of the company’s stock valued at $128,674,000 after acquiring an additional 494,306 shares during the last quarter. Formidable Asset Management LLC lifted its holdings in First Trust SMID Cap Rising Dividend Achievers ETF by 17.2% during the third quarter. Formidable Asset Management LLC now owns 87,779 shares of the company’s stock worth $3,097,000 after acquiring an additional 12,862 shares during the period. D.A. Davidson & CO. lifted its holdings in First Trust SMID Cap Rising Dividend Achievers ETF by 4.0% during the third quarter. D.A. Davidson & CO. now owns 669,617 shares of the company’s stock worth $25,458,000 after acquiring an additional 25,832 shares during the period. Finally, Dagco Inc. lifted its holdings in First Trust SMID Cap Rising Dividend Achievers ETF by 4.8% during the third quarter. Dagco Inc. now owns 359,049 shares of the company’s stock worth $13,651,000 after acquiring an additional 16,391 shares during the period.

First Trust SMID Cap Rising Dividend Achievers ETF Trading Up 0.3%

SDVY stock opened at $40.38 on Tuesday. The stock has a market cap of $10.12 billion, a P/E ratio of 14.54 and a beta of 1.12. The stock’s fifty day simple moving average is $40.91 and its two-hundred day simple moving average is $39.03. First Trust SMID Cap Rising Dividend Achievers ETF has a 1-year low of $28.84 and a 1-year high of $42.89.

First Trust SMID Cap Rising Dividend Achievers ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were issued a $0.1305 dividend. This is an increase from First Trust SMID Cap Rising Dividend Achievers ETF’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%.

About First Trust SMID Cap Rising Dividend Achievers ETF

The First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of small- and mid-cap US companies with historically increasing dividends and that meet various fundamental criteria. SDVY was launched on Nov 1, 2017 and is managed by First Trust.