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

Shares of First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) reached a new 52-week high on Monday . The company traded as high as $48.12 and last traded at $47.94, with a volume of 161492 shares trading hands. The stock had previously closed at $47.88.

First Trust Value Line Dividend Index Fund Stock Performance

The company has a 50-day moving average price of $46.66 and a 200-day moving average price of $46.13. The firm has a market capitalization of $8.88 billion, a P/E ratio of 18.85 and a beta of 0.73.

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

Institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in shares of First Trust Value Line Dividend Index Fund by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,579,921 shares of the company’s stock valued at $249,413,000 after acquiring an additional 758,020 shares during the period. UBS Group AG increased its stake in First Trust Value Line Dividend Index Fund by 2.4% in the third quarter. UBS Group AG now owns 3,906,667 shares of the company’s stock valued at $180,644,000 after purchasing an additional 91,095 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Trust Value Line Dividend Index Fund by 84.1% in the third quarter. JPMorgan Chase & Co. now owns 2,773,717 shares of the company’s stock valued at $128,257,000 after purchasing an additional 1,266,968 shares in the last quarter. HighTower Advisors LLC raised its holdings in First Trust Value Line Dividend Index Fund by 1.2% in the third quarter. HighTower Advisors LLC now owns 1,880,046 shares of the company’s stock worth $86,933,000 after purchasing an additional 22,359 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of First Trust Value Line Dividend Index Fund by 3.5% during the second quarter. Baird Financial Group Inc. now owns 1,141,242 shares of the company’s stock worth $51,014,000 after purchasing an additional 38,742 shares in the last quarter.

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.