Pinnacle Associates Ltd. Has $8.87 Million Stock Position in First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Pinnacle Associates Ltd. lifted its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,252 shares of the company’s stock after acquiring an additional 66,370 shares during the period. Pinnacle Associates Ltd. owned approximately 0.10% of First Trust SMID Cap Rising Dividend Achievers ETF worth $8,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SDVY. Cetera Investment Advisers boosted its stake in First Trust SMID Cap Rising Dividend Achievers ETF by 5.5% during the 2nd quarter. Cetera Investment Advisers now owns 5,276,231 shares of the company’s stock valued at $186,145,000 after purchasing an additional 273,077 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 5.0% in the third quarter. Capital Investment Advisors LLC now owns 4,170,826 shares of the company’s stock worth $158,573,000 after purchasing an additional 198,680 shares during the last quarter. Park National Corp OH lifted its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 1.1% in the third quarter. Park National Corp OH now owns 3,412,175 shares of the company’s stock valued at $129,729,000 after purchasing an additional 35,601 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 17.1% in the third quarter. Commonwealth Equity Services LLC now owns 3,384,431 shares of the company’s stock valued at $128,674,000 after purchasing an additional 494,306 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 20.3% during the third quarter. HighTower Advisors LLC now owns 3,127,052 shares of the company’s stock valued at $118,890,000 after buying an additional 528,572 shares during the last quarter.

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

Shares of First Trust SMID Cap Rising Dividend Achievers ETF stock opened at $40.38 on Tuesday. The stock has a fifty day simple moving average of $40.91 and a 200 day simple moving average of $39.03. First Trust SMID Cap Rising Dividend Achievers ETF has a 12-month low of $28.84 and a 12-month high of $42.89. The company has a market capitalization of $10.12 billion, a P/E ratio of 14.54 and a beta of 1.12.

First Trust SMID Cap Rising Dividend Achievers ETF Increases Dividend

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

First Trust SMID Cap Rising Dividend Achievers ETF Profile

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.