First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Sets New 1-Year High – Still a Buy?

Shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $75.52 and last traded at $75.31, with a volume of 163951 shares changing hands. The stock had previously closed at $74.49.

First Trust Rising Dividend Achievers ETF Trading Up 0.2%

The business’s fifty day simple moving average is $71.35 and its 200 day simple moving average is $70.45. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 15.46 and a beta of 1.02.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a dividend of $0.1813 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.0%.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Hedge funds have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC grew its position in shares of First Trust Rising Dividend Achievers ETF by 4.5% during the 1st quarter. Basepoint Wealth LLC now owns 3,187 shares of the company’s stock worth $218,000 after buying an additional 136 shares during the period. Retirement Planning Group LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 1.8% during the 1st quarter. Retirement Planning Group LLC now owns 8,013 shares of the company’s stock worth $547,000 after acquiring an additional 138 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in First Trust Rising Dividend Achievers ETF by 1.2% during the 3rd quarter. Confluence Wealth Services Inc. now owns 12,638 shares of the company’s stock worth $850,000 after acquiring an additional 153 shares during the last quarter. Quad Cities Investment Group LLC grew its holdings in First Trust Rising Dividend Achievers ETF by 0.7% during the fourth quarter. Quad Cities Investment Group LLC now owns 21,219 shares of the company’s stock valued at $1,474,000 after purchasing an additional 157 shares during the period. Finally, Allworth Financial LP increased its stake in First Trust Rising Dividend Achievers ETF by 0.3% in the third quarter. Allworth Financial LP now owns 59,767 shares of the company’s stock valued at $4,020,000 after purchasing an additional 159 shares in the last quarter.

About First Trust Rising Dividend Achievers ETF

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that is based on the NASDAQ US Rising Dividend Achievers index. The fund tracks an index of 50 large-cap stocks with rising, high-quality dividends. RDVY was launched on Jan 6, 2014 and is managed by First Trust.