First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 12-Month High – Here’s Why

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.73 and last traded at $44.67, with a volume of 575159 shares trading hands. The stock had previously closed at $44.02.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.5%

The firm has a market capitalization of $6.04 billion, a PE ratio of 13.96 and a beta of 0.73. The company has a 50-day moving average of $43.31 and a 200 day moving average of $43.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in First Trust Morningstar Dividend Leaders Index Fund by 1.1% in the first quarter. Royal Bank of Canada now owns 1,990,425 shares of the exchange traded fund’s stock valued at $86,464,000 after acquiring an additional 22,429 shares during the last quarter. Plotkin Financial Advisors LLC purchased a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the 1st quarter worth about $201,000. Balefire LLC bought a new position in shares of First Trust Morningstar Dividend Leaders Index Fund during the 2nd quarter valued at about $1,758,000. Focus Partners Advisor Solutions LLC bought a new position in shares of First Trust Morningstar Dividend Leaders Index Fund during the 1st quarter valued at about $462,000. Finally, Baird Financial Group Inc. raised its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 5.2% during the 1st quarter. Baird Financial Group Inc. now owns 95,545 shares of the exchange traded fund’s stock valued at $4,150,000 after buying an additional 4,724 shares in the last quarter.

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.