First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Reaches New 52-Week Low - Here's Why

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $52.73 and last traded at $53.86, with a volume of 681630 shares. The stock had previously closed at $55.89.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

The company has a fifty day moving average price of $59.79 and a two-hundred day moving average price of $60.52. The company has a market cap of $12.84 billion, a P/E ratio of 14.89 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were paid a $0.2544 dividend. This is an increase from First Trust NASDAQ Rising Dividend Achievers's previous quarterly dividend of $0.19. This represents a $1.02 annualized dividend and a yield of 1.82%. The ex-dividend date was Thursday, March 27th.

Institutional Investors Weigh In On First Trust NASDAQ Rising Dividend Achievers

Hedge funds have recently added to or reduced their stakes in the business. MBE Wealth Management LLC increased its position in First Trust NASDAQ Rising Dividend Achievers by 4.2% during the fourth quarter. MBE Wealth Management LLC now owns 4,057 shares of the company's stock worth $240,000 after acquiring an additional 163 shares during the period. Trueblood Wealth Management LLC lifted its stake in First Trust NASDAQ Rising Dividend Achievers by 1.4% in the 4th quarter. Trueblood Wealth Management LLC now owns 12,233 shares of the company's stock valued at $723,000 after purchasing an additional 167 shares during the last quarter. Pacific Sun Financial Corp grew its position in First Trust NASDAQ Rising Dividend Achievers by 2.9% during the 4th quarter. Pacific Sun Financial Corp now owns 6,090 shares of the company's stock worth $360,000 after acquiring an additional 170 shares during the last quarter. Continuum Advisory LLC raised its holdings in First Trust NASDAQ Rising Dividend Achievers by 1.7% in the 4th quarter. Continuum Advisory LLC now owns 10,589 shares of the company's stock valued at $626,000 after buying an additional 173 shares during the last quarter. Finally, Wealth Effects LLC grew its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 0.6% in the fourth quarter. Wealth Effects LLC now owns 34,830 shares of the company's stock worth $2,060,000 after purchasing an additional 200 shares during the last quarter.

First Trust NASDAQ Rising Dividend Achievers Company Profile

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.