First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Shares Up 0.7% – Here’s Why

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL)’s stock price rose 0.7% during mid-day trading on Monday . The company traded as high as $36.90 and last traded at $36.90. Approximately 2,484 shares traded hands during trading, a decline of 83% from the average daily volume of 14,487 shares. The stock had previously closed at $36.65.

First Trust Dorsey Wright Momentum & Low Volatility ETF Trading Up 0.7%

The stock has a 50 day simple moving average of $36.14 and a 200 day simple moving average of $35.35. The firm has a market capitalization of $79.34 million, a PE ratio of 24.91 and a beta of 0.79.

First Trust Dorsey Wright Momentum & Low Volatility ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were issued a dividend of $0.1008 per share. The ex-dividend date was Friday, December 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. This is an increase from First Trust Dorsey Wright Momentum & Low Volatility ETF’s previous quarterly dividend of $0.05.

Hedge Funds Weigh In On First Trust Dorsey Wright Momentum & Low Volatility ETF

Hedge funds have recently modified their holdings of the company. Csenge Advisory Group raised its stake in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF by 4.4% during the fourth quarter. Csenge Advisory Group now owns 567,061 shares of the company’s stock valued at $19,867,000 after acquiring an additional 23,861 shares during the last quarter. Raymond James Financial Inc. increased its holdings in First Trust Dorsey Wright Momentum & Low Volatility ETF by 12.4% during the 3rd quarter. Raymond James Financial Inc. now owns 203,741 shares of the company’s stock valued at $7,224,000 after purchasing an additional 22,519 shares during the period. Brookwood Investment Group LLC raised its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 103.9% during the 3rd quarter. Brookwood Investment Group LLC now owns 140,142 shares of the company’s stock valued at $4,969,000 after purchasing an additional 71,414 shares during the last quarter. CWM LLC raised its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 4.5% during the 3rd quarter. CWM LLC now owns 128,589 shares of the company’s stock valued at $4,559,000 after purchasing an additional 5,550 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in First Trust Dorsey Wright Momentum & Low Volatility ETF by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 75,572 shares of the company’s stock worth $2,653,000 after buying an additional 1,316 shares during the period.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.