First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 1-Year High - Should You Buy?

Key Points

• Shares hit a new 52-week high — TDIV traded as high as $112.00 (last $111.97) on Thursday with about 108,677 shares changing hands; market cap is roughly $4.24 billion and the P/E is ~25.6.
• Recent dividend paid — the fund paid a $0.3153 quarterly dividend on March 31 (ex-dividend March 26), which annualizes to $1.26 for a ~1.1% yield.
• ETF strategy — TDIV tracks a modified dividend-weighted index of U.S. technology companies listed on the NASDAQ and was launched in August 2012.

Shares of First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) reached a new 52-week high during trading on Thursday . The stock traded as high as $112.00 and last traded at $111.97, with a volume of 108677 shares traded. The stock had previously closed at $110.40.

First Trust NASDAQ Technology Dividend Index Fund Stock Up 1.4%

The firm's fifty day moving average price is $98.95 and its 200 day moving average price is $98.55. The stock has a market cap of $4.24 billion, a PE ratio of 25.63 and a beta of 1.12.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a $0.3153 dividend. This represents a $1.26 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, March 26th.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 4th quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 1st quarter worth approximately $33,000. Cullen Frost Bankers Inc. purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 3rd quarter worth approximately $36,000. Finally, Torren Management LLC purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 1st quarter worth approximately $37,000.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.

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