First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) Shares Down 1% – Here’s Why

First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) shares traded down 1% on Friday. The company traded as low as $38.85 and last traded at $38.95. Approximately 1,665 shares traded hands during trading, a decline of 73% from the average session volume of 6,189 shares. The stock had previously closed at $39.34.

First Trust Dorsey Wright Momentum & Value ETF Trading Down 1.0%

The firm has a market capitalization of $46.74 million, a price-to-earnings ratio of 14.02 and a beta of 1.04. The company has a fifty day moving average price of $40.34 and a 200-day moving average price of $39.22.

First Trust Dorsey Wright Momentum & Value ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a $0.0922 dividend. This is a decrease from First Trust Dorsey Wright Momentum & Value ETF’s previous quarterly dividend of $0.0992. This represents a $0.37 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, September 24th.

Hedge Funds Weigh In On First Trust Dorsey Wright Momentum & Value ETF

An institutional investor recently raised its position in First Trust Dorsey Wright Momentum & Value ETF stock. Janney Montgomery Scott LLC raised its holdings in First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,889 shares of the company’s stock after acquiring an additional 349 shares during the quarter. Janney Montgomery Scott LLC owned about 0.86% of First Trust Dorsey Wright Momentum & Value ETF worth $338,000 at the end of the most recent quarter.

First Trust Dorsey Wright Momentum & Value ETF Company Profile

The First Trust Dorsey Wright Momentum & Value ETF (DVLU) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Value index. The fund tracks an index of 50 large- and mid-cap value stocks exhibiting relative strength. Holdings are weighted by value metrics. DVLU was launched on Sep 5, 2018 and is managed by First Trust.