Sun Financial Inc Makes New $2.52 Million Investment in First Trust Rising Dividend Achievers ETF $RDVY

Sun Financial Inc bought a new position in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 36,228 shares of the company’s stock, valued at approximately $2,517,000. First Trust Rising Dividend Achievers ETF accounts for 1.4% of Sun Financial Inc’s investment portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDVY. First Horizon Corp acquired a new stake in shares of First Trust Rising Dividend Achievers ETF during the third quarter worth $25,000. Financial Perspectives Inc bought a new position in shares of First Trust Rising Dividend Achievers ETF in the 4th quarter valued at about $26,000. Trust Co. of Vermont bought a new stake in shares of First Trust Rising Dividend Achievers ETF during the 4th quarter worth about $27,000. Cullen Frost Bankers Inc. bought a new stake in shares of First Trust Rising Dividend Achievers ETF during the 3rd quarter worth about $28,000. Finally, United Community Bank bought a new stake in First Trust Rising Dividend Achievers ETF in the 4th quarter valued at about $28,000.

First Trust Rising Dividend Achievers ETF Price Performance

NASDAQ RDVY opened at $74.25 on Monday. The company has a market capitalization of $21.81 billion, a P/E ratio of 15.46 and a beta of 1.02. First Trust Rising Dividend Achievers ETF has a 12-month low of $57.73 and a 12-month high of $75.26. The firm has a 50-day moving average price of $71.21 and a two-hundred day moving average price of $70.27.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a $0.1813 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.73 dividend on an annualized basis and a yield of 1.0%.

About First Trust Rising Dividend Achievers ETF

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.