First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 1-Year High - What's Next?

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (TDIV) recently reached a new 52-week high of $100.57, closing at $100.26 with a trading volume of 5,447 shares.
• TDIV announced a quarterly dividend of $0.2762, equating to an annualized yield of 1.1%, which was paid to stockholders of record on September 25th.
• Several hedge funds have increased their positions in TDIV, with notable increases from LPL Financial (5.3%) and Raymond James Financial (17.1%) contributing to a significant accumulation of shares.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - )'s stock price hit a new 52-week high on Friday . The stock traded as high as $100.57 and last traded at $100.26, with a volume of 5447 shares changing hands. The stock had previously closed at $99.72.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

The stock has a market cap of $3.68 billion, a PE ratio of 25.63 and a beta of 1.00. The firm has a 50-day moving average price of $94.08 and a 200-day moving average price of $85.16.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were paid a $0.2762 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 25th.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in First Trust NASDAQ Technology Dividend Index Fund by 5.3% in the 1st quarter. LPL Financial LLC now owns 2,366,613 shares of the company's stock valued at $174,206,000 after acquiring an additional 119,189 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of First Trust NASDAQ Technology Dividend Index Fund by 17.1% during the second quarter. Raymond James Financial Inc. now owns 1,386,401 shares of the company's stock valued at $125,012,000 after purchasing an additional 202,281 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in First Trust NASDAQ Technology Dividend Index Fund by 36.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 853,225 shares of the company's stock valued at $76,935,000 after acquiring an additional 228,524 shares during the period. Royal Bank of Canada lifted its stake in First Trust NASDAQ Technology Dividend Index Fund by 5.6% during the 1st quarter. Royal Bank of Canada now owns 486,637 shares of the company's stock valued at $35,822,000 after acquiring an additional 25,912 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in First Trust NASDAQ Technology Dividend Index Fund by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 449,859 shares of the company's stock valued at $40,570,000 after acquiring an additional 15,139 shares during the period.

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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