Pinnacle Associates Ltd. Has $9.68 Million Stock Holdings in First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Pinnacle Associates Ltd. raised its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) by 8.3% during the 4th quarter, HoldingsChannel reports. The fund owned 252,704 shares of the company’s stock after purchasing an additional 19,452 shares during the period. Pinnacle Associates Ltd.’s holdings in First Trust SMID Cap Rising Dividend Achievers ETF were worth $9,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SDVY. Bank of Jackson Hole Trust purchased a new stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the third quarter worth $25,000. Eagle Bay Advisors LLC acquired a new position in First Trust SMID Cap Rising Dividend Achievers ETF in the 4th quarter worth about $25,000. Oakworth Capital Inc. purchased a new stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the 4th quarter worth about $25,000. Trust Co. of Vermont purchased a new stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the 4th quarter worth about $27,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the 4th quarter valued at about $30,000.

First Trust SMID Cap Rising Dividend Achievers ETF Stock Performance

Shares of NASDAQ SDVY opened at $41.32 on Friday. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 14.54 and a beta of 1.04. The business has a 50 day simple moving average of $40.79 and a 200 day simple moving average of $39.97. First Trust SMID Cap Rising Dividend Achievers ETF has a 52 week low of $33.54 and a 52 week high of $42.89.

First Trust SMID Cap Rising Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a dividend of $0.0976 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.39 annualized dividend and a yield of 0.9%.

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.