First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Trading 1.3% Higher – Still a Buy?

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) shares traded up 1.3% during mid-day trading on Thursday . The company traded as high as $47.44 and last traded at $47.33. Approximately 3,778 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 5,157 shares. The stock had previously closed at $46.73.

First Trust Dorsey Wright Momentum & Dividend ETF Price Performance

The stock has a market cap of $71.00 million, a price-to-earnings ratio of 17.21 and a beta of 0.91. The company’s 50 day moving average is $45.15 and its 200 day moving average is $43.38.

First Trust Dorsey Wright Momentum & Dividend ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a $0.1843 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. This is a boost from First Trust Dorsey Wright Momentum & Dividend ETF’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

Institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in First Trust Dorsey Wright Momentum & Dividend ETF during the fourth quarter worth $2,313,000. Concurrent Investment Advisors LLC grew its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 132.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 79,655 shares of the company’s stock valued at $3,309,000 after purchasing an additional 45,324 shares during the last quarter. Osaic Holdings Inc. grew its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 26.1% in the fourth quarter. Osaic Holdings Inc. now owns 160,198 shares of the company’s stock valued at $6,657,000 after purchasing an additional 33,116 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the fourth quarter valued at $585,000. Finally, Cetera Investment Advisers increased its position in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 36.2% in the first quarter. Cetera Investment Advisers now owns 35,748 shares of the company’s stock valued at $1,446,000 after buying an additional 9,493 shares in the last quarter.

First Trust Dorsey Wright Momentum & Dividend ETF Company Profile

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.