First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Sets New 52-Week High at $56.08

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) reached a new 52-week high on Thursday . The stock traded as high as $56.08 and last traded at $55.93, with a volume of 103632 shares trading hands. The stock had previously closed at $55.87.

First Trust NASDAQ Rising Dividend Achievers Price Performance

The company has a fifty day simple moving average of $52.67 and a two-hundred day simple moving average of $49.48. The company has a market capitalization of $10.17 billion, a P/E ratio of 9.91 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd will be issued a dividend of $0.2238 per share. The ex-dividend date is Thursday, March 21st. This represents a $0.90 annualized dividend and a yield of 1.60%.

Hedge Funds Weigh In On First Trust NASDAQ Rising Dividend Achievers

A number of institutional investors have recently made changes to their positions in RDVY. International Assets Investment Management LLC increased its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 5,519.6% in the fourth quarter. International Assets Investment Management LLC now owns 6,615,517 shares of the company’s stock worth $341,824,000 after purchasing an additional 6,497,795 shares during the period. Morgan Stanley increased its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 8.1% in the third quarter. Morgan Stanley now owns 12,995,589 shares of the company’s stock worth $597,147,000 after purchasing an additional 969,819 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 30.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,989,267 shares of the company’s stock worth $206,125,000 after purchasing an additional 933,923 shares during the period. Royal Bank of Canada increased its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 36.3% in the first quarter. Royal Bank of Canada now owns 3,260,517 shares of the company’s stock worth $159,766,000 after purchasing an additional 868,610 shares during the period. Finally, LPL Financial LLC increased its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 4.5% in the third quarter. LPL Financial LLC now owns 16,132,424 shares of the company’s stock worth $741,285,000 after purchasing an additional 689,605 shares during the period.

About First Trust NASDAQ Rising Dividend Achievers

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.