First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) Hits New 12-Month High – Should You Buy?

First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)’s share price reached a new 52-week high on Friday . The company traded as high as $81.46 and last traded at $81.21, with a volume of 124795 shares trading hands. The stock had previously closed at $80.80.

First Trust Rising Dividend Achievers ETF Stock Up 0.2%

The business’s fifty day moving average is $78.66 and its 200 day moving average is $74.34. The stock has a market cap of $24.79 billion, a PE ratio of 15.46 and a beta of 1.00.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.1474 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.59 annualized dividend and a dividend yield of 0.7%.

Hedge Funds Weigh In On First Trust Rising Dividend Achievers ETF

Several hedge funds have recently bought and sold shares of the company. Cary Street Partners Financial LLC grew its holdings in First Trust Rising Dividend Achievers ETF by 10.8% in the second quarter. Cary Street Partners Financial LLC now owns 43,493 shares of the company’s stock valued at $3,526,000 after purchasing an additional 4,225 shares during the last quarter. Vaquero Private Wealth Ltd. acquired a new stake in First Trust Rising Dividend Achievers ETF in the 2nd quarter valued at about $392,000. Farther Finance Advisors LLC increased its stake in shares of First Trust Rising Dividend Achievers ETF by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 168,167 shares of the company’s stock worth $13,631,000 after purchasing an additional 2,103 shares in the last quarter. O Connor Financial Group LLC raised its holdings in shares of First Trust Rising Dividend Achievers ETF by 0.9% in the second quarter. O Connor Financial Group LLC now owns 156,498 shares of the company’s stock worth $12,686,000 after acquiring an additional 1,339 shares during the last quarter. Finally, HBW Advisory Services LLC raised its stake in First Trust Rising Dividend Achievers ETF by 11.0% in the 2nd quarter. HBW Advisory Services LLC now owns 174,558 shares of the company’s stock valued at $14,150,000 after purchasing an additional 17,345 shares during the last quarter.

About First Trust Rising Dividend Achievers ETF

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.