ProShares Russell 2000 Dividend Growers ETF (BATS:SMDV) Hits New 12-Month High – Still a Buy?

ProShares Russell 2000 Dividend Growers ETF (BATS:SMDV)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.64 and last traded at $74.61, with a volume of 19167 shares changing hands. The stock had previously closed at $75.13.

ProShares Russell 2000 Dividend Growers ETF Stock Down 1.1%

The company has a 50-day simple moving average of $72.50 and a two-hundred day simple moving average of $70.56. The firm has a market cap of $741.45 million, a PE ratio of 16.56 and a beta of 0.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SMDV. Sound Income Strategies LLC purchased a new position in ProShares Russell 2000 Dividend Growers ETF in the fourth quarter worth $28,000. Cornerstone Planning Group LLC purchased a new position in ProShares Russell 2000 Dividend Growers ETF in the fourth quarter worth $37,000. Advisory Services Network LLC purchased a new position in ProShares Russell 2000 Dividend Growers ETF in the third quarter worth $37,000. Franklin Resources Inc. purchased a new position in ProShares Russell 2000 Dividend Growers ETF in the second quarter worth $48,000. Finally, Kestra Advisory Services LLC purchased a new position in ProShares Russell 2000 Dividend Growers ETF in the fourth quarter worth $186,000.

About ProShares Russell 2000 Dividend Growers ETF

The ProShares Russell 2000 Dividend Growers ETF (SMDV) is an exchange-traded fund that is based on the Russell 2000 Dividend Growth index. The fund tracks an index of US small-cap stocks with a 10-year record of increasing dividends. Stocks are equally weighted. SMDV was launched on Feb 5, 2015 and is managed by ProShares.