First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sets New 52-Week High - Here's Why

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (TDIV) has reached a new 52-week high of $93.34 during mid-day trading, with a recent trading volume of 1,750 shares.
• The fund increased its quarterly dividend to $0.3191 per share, up from the previous $0.27, representing a yield of 1.4% based on an annualized dividend of $1.28.
• Various institutional investors have shown interest in TDIV, acquiring new positions worth amounts ranging between $27,000 and $49,000 over recent quarters.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $93.34 and last traded at $93.34, with a volume of 1750 shares traded. The stock had previously closed at $92.73.

First Trust NASDAQ Technology Dividend Index Fund Trading Down 1.4%

The stock has a market capitalization of $3.34 billion, a P/E ratio of 25.63 and a beta of 1.00. The company has a fifty day simple moving average of $91.39 and a two-hundred day simple moving average of $82.34.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.3191 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 26th. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27.

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

Large investors have recently bought and sold shares of the company. First Pacific Financial acquired a new position in First Trust NASDAQ Technology Dividend Index Fund during the 2nd quarter worth approximately $27,000. Blue Trust Inc. acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at approximately $27,000. Arlington Trust Co LLC acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter valued at approximately $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter valued at approximately $41,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at approximately $49,000.

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.