Merit Financial Group LLC Has $14.61 Million Position in First Trust Rising Dividend Achievers ETF $RDVY

Merit Financial Group LLC grew its holdings in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) by 311.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,248 shares of the company’s stock after purchasing an additional 159,124 shares during the quarter. Merit Financial Group LLC owned about 0.08% of First Trust Rising Dividend Achievers ETF worth $14,606,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of RDVY. Ameriprise Financial Inc. raised its position in shares of First Trust Rising Dividend Achievers ETF by 15.7% during the second quarter. Ameriprise Financial Inc. now owns 7,074,097 shares of the company’s stock worth $442,526,000 after acquiring an additional 957,587 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of First Trust Rising Dividend Achievers ETF by 74.0% during the third quarter. JPMorgan Chase & Co. now owns 1,707,049 shares of the company’s stock worth $114,816,000 after acquiring an additional 725,742 shares during the last quarter. UBS Group AG raised its position in shares of First Trust Rising Dividend Achievers ETF by 12.2% during the third quarter. UBS Group AG now owns 5,740,264 shares of the company’s stock worth $386,090,000 after acquiring an additional 624,936 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of First Trust Rising Dividend Achievers ETF by 13.3% during the third quarter. Envestnet Asset Management Inc. now owns 4,906,017 shares of the company’s stock worth $329,979,000 after acquiring an additional 577,318 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of First Trust Rising Dividend Achievers ETF during the third quarter worth $32,762,000.

First Trust Rising Dividend Achievers ETF Trading Up 1.8%

NASDAQ RDVY opened at $74.50 on Friday. The stock has a 50-day simple moving average of $70.79 and a 200 day simple moving average of $69.74. The company has a market capitalization of $21.72 billion, a PE ratio of 15.46 and a beta of 1.03. First Trust Rising Dividend Achievers ETF has a 12 month low of $52.88 and a 12 month high of $74.96.

First Trust Rising Dividend Achievers ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a $0.1813 dividend. This represents a $0.73 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, March 26th.

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.