Novem Group Takes $1.06 Million Position in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Novem Group acquired a new stake in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,866 shares of the company's stock, valued at approximately $1,057,000.

Several other hedge funds also recently added to or reduced their stakes in RDVY. Cullen Frost Bankers Inc. acquired a new position in shares of First Trust NASDAQ Rising Dividend Achievers in the 4th quarter valued at $25,000. Summit Investment Advisors Inc. lifted its position in First Trust NASDAQ Rising Dividend Achievers by 195.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 443 shares of the company's stock valued at $26,000 after buying an additional 293 shares during the last quarter. Graney & King LLC purchased a new position in First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth about $27,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth about $38,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter valued at about $40,000.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

First Trust NASDAQ Rising Dividend Achievers stock opened at $61.24 on Wednesday. The company's 50 day simple moving average is $57.39 and its 200-day simple moving average is $60.08. First Trust NASDAQ Rising Dividend Achievers has a 1 year low of $50.27 and a 1 year high of $64.63. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.58 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. Shareholders of record on Thursday, March 27th were given a $0.2544 dividend. This is a positive change from First Trust NASDAQ Rising Dividend Achievers's previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 27th. This represents a $1.02 dividend on an annualized basis and a yield of 1.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.