First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 52-Week High – Time to Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) shares hit a new 52-week high on Wednesday . The stock traded as high as $81.36 and last traded at $81.06, with a volume of 2008539 shares trading hands. The stock had previously closed at $80.49.

First Trust Rising Dividend Achievers ETF Price Performance

The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00. The stock’s 50 day simple moving average is $76.38 and its 200-day simple moving average is $73.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a $0.1474 dividend. This represents a $0.59 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RDVY. KERR FINANCIAL PLANNING Corp lifted its position in First Trust Rising Dividend Achievers ETF by 58.4% during the 2nd quarter. KERR FINANCIAL PLANNING Corp now owns 8,716 shares of the company’s stock worth $707,000 after acquiring an additional 3,215 shares during the last quarter. Western Wealth Management LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 4.4% during the 1st quarter. Western Wealth Management LLC now owns 353,709 shares of the company’s stock valued at $24,151,000 after purchasing an additional 15,055 shares during the period. Southern Financial Group LLC grew its holdings in First Trust Rising Dividend Achievers ETF by 10.6% in the 1st quarter. Southern Financial Group LLC now owns 22,658 shares of the company’s stock valued at $1,547,000 after buying an additional 2,166 shares during the last quarter. Parallel Advisors LLC grew its holdings in First Trust Rising Dividend Achievers ETF by 459.1% in the 1st quarter. Parallel Advisors LLC now owns 12,111 shares of the company’s stock valued at $827,000 after buying an additional 9,945 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in First Trust Rising Dividend Achievers ETF by 9.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,437,974 shares of the company’s stock worth $98,185,000 after buying an additional 125,245 shares during the period.

First Trust Rising Dividend Achievers ETF Company Profile

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.