First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Reaches New 12-Month High - Here's Why

Shares of First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $92.55 and last traded at $92.42, with a volume of 4599 shares traded. The stock had previously closed at $91.95.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 25.42 and a beta of 1.00. The company's 50-day simple moving average is $84.00 and its 200-day simple moving average is $79.36.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a dividend of $0.3191 per share. 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 1.38%. The ex-dividend date was Thursday, June 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDIV. Nations Financial Group Inc. IA ADV lifted its holdings in shares of First Trust NASDAQ Technology Dividend Index Fund by 2.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 4,867 shares of the company's stock worth $358,000 after buying an additional 126 shares in the last quarter. Global Assets Advisory LLC raised its stake in First Trust NASDAQ Technology Dividend Index Fund by 3.8% in the 4th quarter. Global Assets Advisory LLC now owns 4,001 shares of the company's stock worth $314,000 after purchasing an additional 146 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in First Trust NASDAQ Technology Dividend Index Fund by 4.1% in the 1st quarter. Ameritas Advisory Services LLC now owns 4,026 shares of the company's stock worth $314,000 after purchasing an additional 159 shares in the last quarter. Kaydan Wealth Management Inc. boosted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 0.6% in the 1st quarter. Kaydan Wealth Management Inc. now owns 29,774 shares of the company's stock valued at $2,192,000 after purchasing an additional 165 shares during the period. Finally, HBW Advisory Services LLC grew its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 3.4% during the 2nd quarter. HBW Advisory Services LLC now owns 5,131 shares of the company's stock worth $463,000 after purchasing an additional 167 shares in the last quarter.

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.