First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 12-Month High – Still a Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $45.20 and last traded at $44.8520, with a volume of 240303 shares traded. The stock had previously closed at $44.75.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

The stock has a market cap of $6.22 billion, a PE ratio of 13.96 and a beta of 0.73. The company’s 50-day moving average price is $43.78 and its 200 day moving average price is $43.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FDL. Ameriprise Financial Inc. grew its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 17.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,911,177 shares of the exchange traded fund’s stock valued at $163,766,000 after acquiring an additional 590,206 shares during the period. Raymond James Financial Inc. lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 10.8% during the second quarter. Raymond James Financial Inc. now owns 4,226,227 shares of the exchange traded fund’s stock valued at $176,952,000 after purchasing an additional 411,724 shares in the last quarter. Osaic Holdings Inc. grew its holdings in First Trust Morningstar Dividend Leaders Index Fund by 35.2% during the second quarter. Osaic Holdings Inc. now owns 1,492,128 shares of the exchange traded fund’s stock valued at $62,481,000 after purchasing an additional 388,747 shares during the period. Cetera Investment Advisers increased its position in First Trust Morningstar Dividend Leaders Index Fund by 11.5% in the second quarter. Cetera Investment Advisers now owns 2,075,810 shares of the exchange traded fund’s stock worth $86,914,000 after buying an additional 213,565 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in First Trust Morningstar Dividend Leaders Index Fund by 18.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,263,811 shares of the exchange traded fund’s stock worth $52,916,000 after buying an additional 194,482 shares in the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.