First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Stock Price Up 0.3% – Here’s Why

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV)’s stock price shot up 0.3% on Tuesday . The company traded as high as $39.13 and last traded at $39.05. 10,142 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 11,230 shares. The stock had previously closed at $38.94.

First Trust Dorsey Wright Momentum & Dividend ETF Trading Up 0.3%

The company’s 50 day simple moving average is $39.62 and its 200-day simple moving average is $38.61. The firm has a market cap of $66.39 million, a P/E ratio of 17.21 and a beta of 0.96.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were issued a $0.1549 dividend. The ex-dividend date was Thursday, September 25th. This represents a $0.62 annualized dividend and a yield of 1.6%.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. GGM Financials LLC bought a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the 2nd quarter valued at $9,203,000. Brookwood Investment Group LLC purchased a new stake in First Trust Dorsey Wright Momentum & Dividend ETF during the first quarter valued at $5,205,000. Newbridge Financial Services Group Inc. bought a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the second quarter valued at about $1,182,000. Concurrent Investment Advisors LLC lifted its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 139.6% in the third quarter. Concurrent Investment Advisors LLC now owns 34,331 shares of the company’s stock valued at $1,380,000 after acquiring an additional 20,001 shares during the period. Finally, Compound Planning Inc. boosted its position in First Trust Dorsey Wright Momentum & Dividend ETF by 106.8% in the first quarter. Compound Planning Inc. now owns 29,542 shares of the company’s stock worth $1,116,000 after purchasing an additional 15,257 shares during the last quarter.

About First Trust Dorsey Wright Momentum & Dividend ETF

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.