First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Sees Large Increase in Short Interest

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 463,600 shares, a growth of 241.9% from the December 31st total of 135,600 shares. Based on an average daily volume of 738,400 shares, the days-to-cover ratio is currently 0.6 days.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

Shares of NASDAQ RDVY traded up $0.31 during mid-day trading on Wednesday, hitting $62.88. 373,477 shares of the stock traded hands, compared to its average volume of 917,126. First Trust NASDAQ Rising Dividend Achievers has a 52 week low of $50.24 and a 52 week high of $64.63. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 10.08 and a beta of 1.15. The stock has a fifty day moving average price of $61.49 and a 200-day moving average price of $59.53.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.2956 per share. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. MBE Wealth Management LLC raised its stake in First Trust NASDAQ Rising Dividend Achievers by 4.2% during the fourth quarter. MBE Wealth Management LLC now owns 4,057 shares of the company’s stock valued at $240,000 after buying an additional 163 shares during the last quarter. Trueblood Wealth Management LLC raised its stake in First Trust NASDAQ Rising Dividend Achievers by 1.4% during the fourth quarter. Trueblood Wealth Management LLC now owns 12,233 shares of the company’s stock valued at $723,000 after buying an additional 167 shares during the last quarter. Financial Services Advisory Inc raised its stake in First Trust NASDAQ Rising Dividend Achievers by 1.2% during the third quarter. Financial Services Advisory Inc now owns 14,883 shares of the company’s stock valued at $881,000 after buying an additional 170 shares during the last quarter. Crewe Advisors LLC raised its stake in First Trust NASDAQ Rising Dividend Achievers by 12.5% during the third quarter. Crewe Advisors LLC now owns 1,635 shares of the company’s stock valued at $97,000 after buying an additional 182 shares during the last quarter. Finally, L & S Advisors Inc raised its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 1.0% in the third quarter. L & S Advisors Inc now owns 19,350 shares of the company’s stock worth $1,146,000 after purchasing an additional 197 shares during the last quarter.

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.