First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Shares Down 0.9% – What’s Next?

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV)’s stock price dropped 0.9% on Thursday . The stock traded as low as $46.96 and last traded at $47.02. 3,906 shares were traded during trading, a decline of 36% from the average daily volume of 6,068 shares. The stock had previously closed at $47.47.

First Trust Dorsey Wright Momentum & Dividend ETF Price Performance

The stock has a market capitalization of $75.23 million, a P/E ratio of 17.21 and a beta of 0.91. The stock’s fifty day moving average price is $45.86 and its 200 day moving average price is $43.89.

First Trust Dorsey Wright Momentum & Dividend ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.1843 per share. This represents a $0.74 dividend on an annualized basis and a dividend 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DDIV. Sound Income Strategies LLC purchased a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter worth $42,000. Kestra Advisory Services LLC purchased a new stake in First Trust Dorsey Wright Momentum & Dividend ETF in the fourth quarter worth about $100,000. Western Wealth Management LLC bought a new position in First Trust Dorsey Wright Momentum & Dividend ETF during the 1st quarter worth about $146,000. Insight Advisors LLC PA purchased a new position in First Trust Dorsey Wright Momentum & Dividend ETF during the 4th quarter valued at about $201,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter valued at about $201,000.

About First Trust Dorsey Wright Momentum & Dividend ETF

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.