First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Reaches New 12-Month High – Should You Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.71 and last traded at $52.9280, with a volume of 57235 shares traded. The stock had previously closed at $51.74.

First Trust Morningstar Dividend Leaders Index Fund Trading Up 2.4%

The firm has a market capitalization of $7.97 billion, a P/E ratio of 13.96 and a beta of 0.58. The business’s 50 day simple moving average is $50.11 and its two-hundred day simple moving average is $49.60.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 1.7% in the 4th quarter. LPL Financial LLC now owns 12,408,286 shares of the exchange traded fund’s stock valued at $550,183,000 after acquiring an additional 202,537 shares in the last quarter. Morgan Stanley raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 9.9% in the fourth quarter. Morgan Stanley now owns 8,670,709 shares of the exchange traded fund’s stock worth $384,459,000 after purchasing an additional 778,170 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 15.2% in the fourth quarter. Raymond James Financial Inc. now owns 5,197,530 shares of the exchange traded fund’s stock worth $230,458,000 after purchasing an additional 686,116 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.2% during the third quarter. Ameriprise Financial Inc. now owns 3,998,214 shares of the exchange traded fund’s stock valued at $173,422,000 after purchasing an additional 87,037 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.3% during the fourth quarter. Wells Fargo & Company MN now owns 3,229,897 shares of the exchange traded fund’s stock valued at $143,214,000 after purchasing an additional 73,182 shares in the last quarter.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.