Kovack Advisors Inc. Reduces Position in First Trust Rising Dividend Achievers ETF $RDVY

Kovack Advisors Inc. lessened its holdings in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,340 shares of the company’s stock after selling 6,277 shares during the quarter. First Trust Rising Dividend Achievers ETF makes up 0.7% of Kovack Advisors Inc.’s portfolio, making the stock its 29th largest holding. Kovack Advisors Inc.’s holdings in First Trust Rising Dividend Achievers ETF were worth $7,048,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RDVY. Farmers & Merchants Investments Inc. purchased a new position in shares of First Trust Rising Dividend Achievers ETF during the 2nd quarter valued at $26,000. Compass Financial Services Inc purchased a new position in shares of First Trust Rising Dividend Achievers ETF during the 1st quarter valued at $26,000. SVB Wealth LLC purchased a new position in shares of First Trust Rising Dividend Achievers ETF during the 1st quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of First Trust Rising Dividend Achievers ETF during the 1st quarter valued at $31,000. Finally, Private Wealth Asset Management LLC lifted its stake in shares of First Trust Rising Dividend Achievers ETF by 201.1% during the 2nd quarter. Private Wealth Asset Management LLC now owns 527 shares of the company’s stock valued at $33,000 after buying an additional 352 shares in the last quarter.

First Trust Rising Dividend Achievers ETF Stock Performance

RDVY opened at $67.53 on Friday. First Trust Rising Dividend Achievers ETF has a fifty-two week low of $50.27 and a fifty-two week high of $68.49. The firm’s fifty day moving average is $66.64 and its 200 day moving average is $63.06. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were paid a dividend of $0.1487 per share. The ex-dividend date was Thursday, September 25th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.9%.

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.