First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 12-Month High - Here's What Happened

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (TDIV) reached a new 12-month high of $98.82 during trading, closing at $98.18 with a trading volume of 125,286 shares.
• The fund recently announced an increase in its quarterly dividend to $0.3191, up from the previous $0.27, representing an annual yield of 1.3%.
• Several institutional investors have recently acquired stakes in TDIV, with notable purchases including First Pacific Financial and Blue Trust Inc., each acquiring stakes worth about $27,000 in the second quarter.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - )'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $98.82 and last traded at $98.18, with a volume of 125286 shares trading hands. The stock had previously closed at $94.07.

First Trust NASDAQ Technology Dividend Index Fund Trading Up 4.4%

The firm has a fifty day moving average of $91.90 and a two-hundred day moving average of $82.85. The company has a market cap of $3.62 billion, a PE ratio of 25.63 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a $0.3191 dividend. This is an increase from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.3%.

Institutional Investors Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Large investors have recently added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth about $27,000. Blue Trust Inc. purchased a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth about $27,000. Arlington Trust Co LLC purchased a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter worth about $37,000. Bernard Wealth Management Corp. purchased a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter worth about $41,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth about $49,000.

First Trust NASDAQ Technology Dividend Index Fund Company Profile

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.

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.