Arax Advisory Partners Acquires Shares of 685,811 First Trust Rising Dividend Achievers ETF $RDVY

Arax Advisory Partners acquired a new stake in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) in the fourth quarter, HoldingsChannel reports. The fund acquired 685,811 shares of the company’s stock, valued at approximately $47,643,000. First Trust Rising Dividend Achievers ETF accounts for approximately 1.4% of Arax Advisory Partners’ holdings, making the stock its 12th largest position.

A number of other hedge funds have also recently bought and sold shares of RDVY. AQR Capital Management LLC grew its stake in First Trust Rising Dividend Achievers ETF by 70.2% during the 1st quarter. AQR Capital Management LLC now owns 31,071 shares of the company’s stock valued at $1,819,000 after purchasing an additional 12,820 shares in the last quarter. First Trust Advisors LP grew its stake in First Trust Rising Dividend Achievers ETF by 104.0% during the 2nd quarter. First Trust Advisors LP now owns 23,934 shares of the company’s stock valued at $1,502,000 after purchasing an additional 12,204 shares in the last quarter. Cerity Partners LLC grew its stake in First Trust Rising Dividend Achievers ETF by 38.1% during the 2nd quarter. Cerity Partners LLC now owns 5,657 shares of the company’s stock valued at $355,000 after purchasing an additional 1,561 shares in the last quarter. Betterment LLC grew its stake in First Trust Rising Dividend Achievers ETF by 19.4% during the 2nd quarter. Betterment LLC now owns 48,475 shares of the company’s stock valued at $3,041,000 after purchasing an additional 7,892 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in First Trust Rising Dividend Achievers ETF during the 2nd quarter worth approximately $1,433,000.

First Trust Rising Dividend Achievers ETF Stock Up 1.1%

NASDAQ:RDVY opened at $78.58 on Friday. The business’s 50 day moving average is $74.31 and its two-hundred day moving average is $71.92. First Trust Rising Dividend Achievers ETF has a 52 week low of $60.30 and a 52 week high of $78.71. The company has a market cap of $23.08 billion, a PE ratio of 15.46 and a beta of 1.01.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.1813 per share. This represents a $0.73 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, March 26th.

First Trust Rising Dividend Achievers ETF 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.