First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Hits New 12-Month High – Here’s Why

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) reached a new 52-week high during trading on Thursday. The stock traded as high as $55.21 and last traded at $55.2940, with a volume of 96,937 shares changing hands. The stock had previously closed at $54.74.

First Trust Morningstar Dividend Leaders Index Fund Trading Up 0.6%

The company’s 50 day moving average is $51.64 and its 200-day moving average is $50.55. The stock has a market cap of $8.59 billion, a PE ratio of 13.96 and a beta of 0.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Csenge Advisory Group lifted its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.5% in the 3rd quarter. Csenge Advisory Group now owns 1,771,662 shares of the exchange traded fund’s stock valued at $87,006,000 after acquiring an additional 43,254 shares in the last quarter. Flynn Zito Capital Management LLC boosted its stake in First Trust Morningstar Dividend Leaders Index Fund by 1.0% in the 3rd quarter. Flynn Zito Capital Management LLC now owns 32,057 shares of the exchange traded fund’s stock worth $1,574,000 after purchasing an additional 328 shares during the period. Brighton Jones LLC acquired a new position in First Trust Morningstar Dividend Leaders Index Fund in the 3rd quarter worth approximately $319,000. StoneX Group Inc. purchased a new position in First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth approximately $918,000. Finally, Formidable Asset Management LLC grew its position in First Trust Morningstar Dividend Leaders Index Fund by 5.0% during the 3rd quarter. Formidable Asset Management LLC now owns 20,583 shares of the exchange traded fund’s stock worth $1,002,000 after purchasing an additional 984 shares in the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

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.