First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 52-Week High – Should You Buy?

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

First Trust Morningstar Dividend Leaders Index Fund Trading Up 0.6%

The firm has a 50 day moving average of $51.64 and a 200-day moving average of $50.55. The company has a market cap of $8.59 billion, a P/E ratio of 13.96 and a beta of 0.58.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Institutional investors have recently added to or reduced their stakes in the stock. Csenge Advisory Group increased its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.5% during 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 during the last quarter. Flynn Zito Capital Management LLC grew its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 1.0% during the 3rd quarter. Flynn Zito Capital Management LLC now owns 32,057 shares of the exchange traded fund’s stock valued at $1,574,000 after buying an additional 328 shares during the period. Brighton Jones LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth $319,000. StoneX Group Inc. purchased a new position in shares of First Trust Morningstar Dividend Leaders Index Fund in the 3rd quarter worth $918,000. Finally, Formidable Asset Management LLC raised its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 5.0% in the 3rd quarter. Formidable Asset Management LLC now owns 20,583 shares of the exchange traded fund’s stock worth $1,002,000 after buying an additional 984 shares during the period.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

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.