First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Hits New 1-Year High – Here’s Why

Shares of First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) reached a new 52-week high during trading on Friday . The stock traded as high as $50.47 and last traded at $50.12, with a volume of 82840 shares trading hands. The stock had previously closed at $49.85.

First Trust Value Line Dividend Index Fund Trading Down 0.1%

The business has a 50-day moving average price of $47.94 and a 200 day moving average price of $47.91. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 18.85 and a beta of 0.64.

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

Several hedge funds have recently modified their holdings of FVD. Ameriprise Financial Inc. boosted its position in shares of First Trust Value Line Dividend Index Fund by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 5,579,921 shares of the company’s stock worth $249,413,000 after buying an additional 758,020 shares during the period. UBS Group AG increased its holdings in shares of First Trust Value Line Dividend Index Fund by 2.4% in the 3rd quarter. UBS Group AG now owns 3,906,667 shares of the company’s stock valued at $180,644,000 after purchasing an additional 91,095 shares during the period. Stifel Financial Corp lifted its position in shares of First Trust Value Line Dividend Index Fund by 0.7% in the fourth quarter. Stifel Financial Corp now owns 2,320,271 shares of the company’s stock worth $106,918,000 after purchasing an additional 16,800 shares in the last quarter. Intellus Advisors LLC grew its position in First Trust Value Line Dividend Index Fund by 3.6% during the fourth quarter. Intellus Advisors LLC now owns 627,174 shares of the company’s stock valued at $28,900,000 after purchasing an additional 21,896 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in First Trust Value Line Dividend Index Fund by 20.9% in the 1st quarter. NewEdge Advisors LLC now owns 573,759 shares of the company’s stock valued at $26,984,000 after buying an additional 99,279 shares during the period.

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. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.