First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Reaches New 52-Week High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $77.48 and last traded at $77.47, with a volume of 172731 shares trading hands. The stock had previously closed at $76.03.

First Trust Rising Dividend Achievers ETF Trading Up 0.0%

The stock has a market capitalization of $22.34 billion, a PE ratio of 15.46 and a beta of 1.01. The firm’s 50-day simple moving average is $73.54 and its two-hundred day simple moving average is $71.64.

First Trust Rising Dividend Achievers ETF Cuts Dividend

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

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in First Trust Rising Dividend Achievers ETF by 459.1% during the 1st quarter. Parallel Advisors LLC now owns 12,111 shares of the company’s stock worth $827,000 after purchasing an additional 9,945 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of First Trust Rising Dividend Achievers ETF by 9.5% in the first quarter. NewEdge Advisors LLC now owns 1,437,974 shares of the company’s stock worth $98,185,000 after purchasing an additional 125,245 shares in the last quarter. Cozad Asset Management Inc. lifted its position in shares of First Trust Rising Dividend Achievers ETF by 1.9% in the first quarter. Cozad Asset Management Inc. now owns 115,817 shares of the company’s stock worth $7,908,000 after purchasing an additional 2,119 shares in the last quarter. Serenity Investment Advisors lifted its position in shares of First Trust Rising Dividend Achievers ETF by 147.8% in the first quarter. Serenity Investment Advisors now owns 20,888 shares of the company’s stock worth $1,572,000 after purchasing an additional 12,460 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC lifted its position in shares of First Trust Rising Dividend Achievers ETF by 9.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 6,873 shares of the company’s stock worth $469,000 after purchasing an additional 574 shares in the last quarter.

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.