Smith Anglin Financial LLC Invests $292,000 in First Trust Rising Dividend Achievers ETF $RDVY

Smith Anglin Financial LLC acquired a new stake in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,659 shares of the company’s stock, valued at approximately $292,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of First Trust Rising Dividend Achievers ETF by 440.8% in the 1st quarter. Bank of New York Mellon Corp now owns 27,683 shares of the company’s stock valued at $1,621,000 after purchasing an additional 22,564 shares during the last quarter. Assetmark Inc. raised its holdings in First Trust Rising Dividend Achievers ETF by 772.8% in the 1st quarter. Assetmark Inc. now owns 64,832 shares of the company’s stock valued at $3,795,000 after buying an additional 57,404 shares during the period. Fifth Third Bancorp raised its holdings in First Trust Rising Dividend Achievers ETF by 652.0% in the 1st quarter. Fifth Third Bancorp now owns 940 shares of the company’s stock valued at $55,000 after buying an additional 815 shares during the period. Arkadios Wealth Advisors lifted its position in First Trust Rising Dividend Achievers ETF by 69.9% in the first quarter. Arkadios Wealth Advisors now owns 207,911 shares of the company’s stock valued at $12,171,000 after buying an additional 85,516 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 44.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,890 shares of the company’s stock worth $403,000 after buying an additional 2,136 shares during the period.

First Trust Rising Dividend Achievers ETF Stock Performance

First Trust Rising Dividend Achievers ETF stock opened at $67.23 on Monday. The company’s 50 day simple moving average is $65.21 and its 200-day simple moving average is $61.40. First Trust Rising Dividend Achievers ETF has a 1 year low of $50.27 and a 1 year high of $67.53. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 15.46 and a beta of 1.15.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 25th will be issued a $0.1487 dividend. This represents a $0.59 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 25th.

First Trust Rising Dividend Achievers ETF 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.