Short Interest in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Drops By 45.7%

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 193,500 shares, a drop of 45.7% from the May 15th total of 356,100 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 1,091,300 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On First Trust Rising Dividend Achievers ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC raised its holdings in shares of First Trust Rising Dividend Achievers ETF by 11.2% in the 1st quarter. LPL Financial LLC now owns 23,686,574 shares of the company’s stock worth $1,386,612,000 after purchasing an additional 2,379,430 shares in the last quarter. Raymond James Financial Inc. grew its position in First Trust Rising Dividend Achievers ETF by 9.7% in the first quarter. Raymond James Financial Inc. now owns 11,002,535 shares of the company’s stock worth $644,088,000 after buying an additional 971,388 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of First Trust Rising Dividend Achievers ETF by 3.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,008,501 shares of the company’s stock valued at $532,763,000 after buying an additional 327,729 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of First Trust Rising Dividend Achievers ETF by 30.0% in the fourth quarter. Ameriprise Financial Inc. now owns 6,135,682 shares of the company’s stock valued at $362,832,000 after buying an additional 1,417,024 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of First Trust Rising Dividend Achievers ETF by 7.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,074,450 shares of the company’s stock valued at $355,598,000 after acquiring an additional 434,447 shares during the last quarter.

First Trust Rising Dividend Achievers ETF Stock Performance

RDVY opened at $61.18 on Tuesday. The company has a market capitalization of $14.25 billion, a PE ratio of 15.48 and a beta of 1.15. The stock’s fifty day moving average is $58.63 and its 200-day moving average is $59.78. First Trust Rising Dividend Achievers ETF has a one year low of $50.27 and a one year high of $64.63.

First Trust Rising Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a dividend of $0.2544 per share. This is a positive change from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.19. This represents a $1.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 27th.

First Trust Rising Dividend Achievers ETF Company Profile

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.