First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Hits New 52-Week High – Here’s What Happened

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.54 and last traded at $53.5980, with a volume of 71949 shares traded. The stock had previously closed at $52.78.

First Trust Morningstar Dividend Leaders Index Fund Trading Down 0.7%

The stock has a fifty day moving average of $50.80 and a two-hundred day moving average of $50.37. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 13.96 and a beta of 0.58.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDL. LPL Financial LLC lifted its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 1.7% during the fourth quarter. LPL Financial LLC now owns 12,408,286 shares of the exchange traded fund’s stock worth $550,183,000 after purchasing an additional 202,537 shares in the last quarter. Morgan Stanley boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 9.9% in the 4th quarter. Morgan Stanley now owns 8,670,709 shares of the exchange traded fund’s stock valued at $384,459,000 after buying an additional 778,170 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 15.2% in the 4th quarter. Raymond James Financial Inc. now owns 5,197,530 shares of the exchange traded fund’s stock valued at $230,458,000 after buying an additional 686,116 shares during the period. Ameriprise Financial Inc. increased its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,998,214 shares of the exchange traded fund’s stock valued at $173,422,000 after buying an additional 87,037 shares during the period. Finally, Wells Fargo & Company MN increased its position in First Trust Morningstar Dividend Leaders Index Fund by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,229,897 shares of the exchange traded fund’s stock worth $143,214,000 after purchasing an additional 73,182 shares during the period.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.