First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Hits New 1-Year High - Here's Why

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.90 and last traded at $59.88, with a volume of 80304 shares changing hands. The stock had previously closed at $59.25.

First Trust NASDAQ Rising Dividend Achievers Trading Up 1.5 %

The firm has a 50-day moving average of $57.42 and a 200-day moving average of $55.96. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 10.08 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.1912 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Investors Weigh In On First Trust NASDAQ Rising Dividend Achievers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. grew its position in First Trust NASDAQ Rising Dividend Achievers by 27.6% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 30,301 shares of the company's stock worth $1,794,000 after purchasing an additional 6,555 shares during the period. Redhawk Wealth Advisors Inc. grew its position in First Trust NASDAQ Rising Dividend Achievers by 22.5% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 128,336 shares of the company's stock worth $7,599,000 after purchasing an additional 23,532 shares during the period. Wagner Wealth Management LLC grew its position in First Trust NASDAQ Rising Dividend Achievers by 5.1% during the 3rd quarter. Wagner Wealth Management LLC now owns 161,468 shares of the company's stock worth $9,561,000 after purchasing an additional 7,829 shares during the period. Willner & Heller LLC grew its position in First Trust NASDAQ Rising Dividend Achievers by 5.9% during the 3rd quarter. Willner & Heller LLC now owns 51,915 shares of the company's stock worth $3,074,000 after purchasing an additional 2,889 shares during the period. Finally, Koshinski Asset Management Inc. grew its position in shares of First Trust NASDAQ Rising Dividend Achievers by 1.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 505,227 shares of the company's stock valued at $29,915,000 after acquiring an additional 8,515 shares during the period.

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.