Royal Bank of Canada Grows Stake in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)

Royal Bank of Canada increased its holdings in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY - Free Report) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,403,022 shares of the company's stock after purchasing an additional 344,216 shares during the period. Royal Bank of Canada owned approximately 1.56% of First Trust Rising Dividend Achievers ETF worth $201,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RDVY. Raymond James Financial Inc. bought a new position in shares of First Trust Rising Dividend Achievers ETF in the 4th quarter valued at about $593,242,000. Leigh Baldwin & CO. LLC bought a new position in shares of First Trust Rising Dividend Achievers ETF during the 4th quarter valued at approximately $132,464,000. Ameriprise Financial Inc. lifted its position in First Trust Rising Dividend Achievers ETF by 30.0% in the fourth quarter. Ameriprise Financial Inc. now owns 6,135,682 shares of the company's stock worth $362,832,000 after buying an additional 1,417,024 shares during the last quarter. LPL Financial LLC boosted its stake in First Trust Rising Dividend Achievers ETF by 4.8% during the fourth quarter. LPL Financial LLC now owns 21,307,144 shares of the company's stock worth $1,260,104,000 after buying an additional 980,714 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of First Trust Rising Dividend Achievers ETF by 7.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,640,003 shares of the company's stock valued at $333,550,000 after acquiring an additional 409,135 shares during the period.

First Trust Rising Dividend Achievers ETF Price Performance

RDVY stock traded down $0.65 during mid-day trading on Friday, reaching $59.32. The company had a trading volume of 475,542 shares, compared to its average volume of 846,661. The company has a market capitalization of $13.82 billion, a PE ratio of 14.58 and a beta of 1.15. The firm has a 50 day moving average of $57.45 and a 200 day moving average of $60.09. First Trust Rising Dividend Achievers ETF has a 12 month low of $50.27 and a 12 month high of $64.63.

First Trust Rising Dividend Achievers ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were issued a $0.2544 dividend. This represents a $1.02 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, March 27th. This is an increase from First Trust Rising Dividend Achievers ETF's previous quarterly dividend of $0.19.

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.