First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sees Unusually-High Trading Volume - Here's Why

Key Points

• TDIV trading volume rose 15% to 149,544 shares, while the ETF traded at $108.97 versus its previous close of $107.20.
• The fund increased its quarterly dividend to $0.4231 from $0.32, equating to an annualized payout of $1.69 and a 1.6% yield.
• Several institutional investors added to or initiated positions in TDIV during the recent quarters, including Sax Wealth Advisors and Parallel Advisors.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) shares saw unusually-strong trading volume on Monday . 149,544 shares traded hands during mid-day trading, an increase of 15% from the previous session's volume of 129,713 shares.The stock last traded at $108.97 and had previously closed at $107.20.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

The company has a market cap of $4.07 billion, a PE ratio of 25.63 and a beta of 1.16. The company has a 50-day moving average price of $114.83 and a two-hundred day moving average price of $105.18.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a $0.4231 dividend. This is a boost from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.32. This represents a $1.69 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, June 25th.

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

Large investors have recently bought and sold shares of the business. Clarus Wealth Advisors increased its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 1.4% in the second quarter. Clarus Wealth Advisors now owns 10,383 shares of the company's stock valued at $1,173,000 after purchasing an additional 148 shares during the period. Sax Wealth Advisors LLC boosted its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 29.1% during the second quarter. Sax Wealth Advisors LLC now owns 4,515 shares of the company's stock worth $519,000 after buying an additional 1,017 shares during the period. First Heartland Consultants Inc. bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth approximately $348,000. Dynamic Advisor Solutions LLC bought a new position in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter worth approximately $224,000. Finally, Parallel Advisors LLC increased its position in First Trust NASDAQ Technology Dividend Index Fund by 5,532.0% in the 1st quarter. Parallel Advisors LLC now owns 5,632 shares of the company's stock valued at $527,000 after acquiring an additional 5,532 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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