First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Hits New 12-Month High – Should You Buy?

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) reached a new 52-week high during trading on Monday. The company traded as high as $51.42 and last traded at $51.39, with a volume of 329,294 shares traded. The stock had previously closed at $50.71.

First Trust Value Line Dividend Index Fund Stock Up 2.2%

The firm has a market capitalization of $8.29 billion, a PE ratio of 18.85 and a beta of 0.61. The firm’s 50 day moving average price is $49.05 and its two-hundred day moving average price is $48.61.

Hedge Funds Weigh In On First Trust Value Line Dividend Index Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new stake in shares of First Trust Value Line Dividend Index Fund during the third quarter worth about $82,726,000. Baird Financial Group Inc. lifted its stake in shares of First Trust Value Line Dividend Index Fund by 7.1% in the second quarter. Baird Financial Group Inc. now owns 889,586 shares of the company’s stock worth $42,860,000 after acquiring an additional 59,092 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of First Trust Value Line Dividend Index Fund by 5.5% in the third quarter. Kestra Advisory Services LLC now owns 889,193 shares of the company’s stock worth $41,712,000 after acquiring an additional 46,274 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in First Trust Value Line Dividend Index Fund by 1.9% in the second quarter. NewEdge Advisors LLC now owns 584,925 shares of the company’s stock valued at $28,182,000 after purchasing an additional 11,166 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new position in First Trust Value Line Dividend Index Fund in the third quarter valued at about $23,300,000.

First Trust Value Line Dividend Index Fund Company Profile

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.