First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Shares Down 0.7% – Here’s Why

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD)’s stock price fell 0.7% during trading on Friday . The company traded as low as $44.14 and last traded at $44.33. 307,089 shares were traded during mid-day trading, a decline of 57% from the average session volume of 709,223 shares. The stock had previously closed at $44.63.

First Trust Value Line Dividend Index Fund Stock Down 0.7 %

The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 19.89 and a beta of 0.79. The company has a 50 day simple moving average of $44.56 and a 200-day simple moving average of $44.86.

Institutional Investors Weigh In On First Trust Value Line Dividend Index Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of First Trust Value Line Dividend Index Fund during the fourth quarter worth about $25,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of First Trust Value Line Dividend Index Fund in the fourth quarter worth approximately $28,000. Park Square Financial Group LLC purchased a new position in shares of First Trust Value Line Dividend Index Fund during the fourth quarter valued at approximately $31,000. Financial Life Planners bought a new stake in First Trust Value Line Dividend Index Fund during the fourth quarter worth $35,000. Finally, Compass Financial Services Inc bought a new position in First Trust Value Line Dividend Index Fund during the 4th quarter valued at $38,000.

About First Trust Value Line Dividend Index Fund

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.