First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 52-Week High - Time to Buy?

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (TDIV) reached a new 52-week high of $93.17, with recent trading at $93.06.
• The fund announced an increase in its dividend to $0.3191 per share, reflecting a 1.4% yield and a boost from the previous dividend amount.
• Notable institutional investors, including Pursue Wealth Partners LLC and J.W. Cole Advisors Inc., have recently increased their stakes in the fund during the second quarter.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) shares hit a new 52-week high on Wednesday . The stock traded as high as $93.17 and last traded at $93.06, with a volume of 7130 shares changing hands. The stock had previously closed at $92.55.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

The company has a market cap of $3.41 billion, a P/E ratio of 25.63 and a beta of 1.00. The company's 50-day moving average is $89.62 and its two-hundred day moving average is $81.24.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Pursue Wealth Partners LLC boosted its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 1.3% during the 2nd quarter. Pursue Wealth Partners LLC now owns 81,511 shares of the company's stock worth $7,350,000 after acquiring an additional 1,051 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of First Trust NASDAQ Technology Dividend Index Fund during the 2nd quarter worth $468,000. J.W. Cole Advisors Inc. boosted its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 62.0% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 37,354 shares of the company's stock worth $3,368,000 after acquiring an additional 14,297 shares during the last quarter. Richmond Investment Services LLC boosted its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 56.2% during the 2nd quarter. Richmond Investment Services LLC now owns 8,243 shares of the company's stock worth $743,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 7.2% during the 2nd quarter. Financial Advocates Investment Management now owns 45,951 shares of the company's stock worth $4,143,000 after acquiring an additional 3,085 shares during the last quarter.

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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