First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Reaches New 12-Month High - Should You Buy?

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.

Shares of First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report) hit a new 52-week high 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 Stock Down 0.2%

The firm has a market capitalization of $3.60 billion, a PE ratio of 25.63 and a beta of 1.00. The firm's 50 day moving average price is $92.23 and its two-hundred day moving average price is $83.25.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The business also recently declared 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 a boost from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ Technology Dividend Index Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Pacific Financial acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth about $27,000. Blue Trust Inc. bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at about $27,000. Arlington Trust Co LLC bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter valued at about $37,000. Bernard Wealth Management Corp. bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter valued at about $41,000. Finally, Trust Co. of Toledo NA OH bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at about $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.