Summit Wealth Group LLC Co. Makes New $12.60 Million Investment in First Trust Rising Dividend Achievers ETF $RDVY

Summit Wealth Group LLC Co. purchased a new position in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 181,311 shares of the company’s stock, valued at approximately $12,599,000. First Trust Rising Dividend Achievers ETF makes up 1.7% of Summit Wealth Group LLC Co.’s holdings, making the stock its 12th biggest position. Summit Wealth Group LLC Co. owned approximately 0.06% of First Trust Rising Dividend Achievers ETF as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RDVY. First Horizon Corp purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the third quarter worth about $25,000. Financial Perspectives Inc purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter worth about $26,000. Trust Co. of Vermont purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter worth about $27,000. Cullen Frost Bankers Inc. purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the third quarter worth about $28,000. Finally, United Community Bank purchased a new stake in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter worth about $28,000.

First Trust Rising Dividend Achievers ETF Trading Down 0.3%

NASDAQ:RDVY opened at $74.07 on Wednesday. First Trust Rising Dividend Achievers ETF has a 12-month low of $59.01 and a 12-month high of $75.75. The stock has a 50-day moving average price of $71.44 and a 200 day moving average price of $70.60. The stock has a market capitalization of $21.76 billion, a P/E ratio of 15.46 and a beta of 1.02.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.1813 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.73 annualized dividend and a dividend yield of 1.0%.

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.