First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 52-Week High - Here's Why

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (TDIV) reached a new 52-week high, trading at $98.83, with a market capitalization of $3.65 billion.
• TDIV recently increased its quarterly dividend to $0.3191, resulting in an annualized dividend of $1.28 and a yield of 1.3%.
• Several institutional investors significantly boosted their stakes in TDIV, with Envestnet Asset Management increasing its holdings by 36.6% in the second quarter.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $98.83 and last traded at $98.76, with a volume of 10941 shares. The stock had previously closed at $97.89.

First Trust NASDAQ Technology Dividend Index Fund Trading Up 1.2%

The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 25.63 and a beta of 1.00. The business has a 50-day moving average price of $92.76 and a two-hundred day moving average price of $83.83.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The firm 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 a positive change 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 dividend on an annualized basis and a yield of 1.3%.

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

Several large investors have recently modified their holdings of the stock. Iams Wealth Management LLC boosted its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 15.9% in the first quarter. Iams Wealth Management LLC now owns 47,773 shares of the company's stock worth $3,517,000 after buying an additional 6,543 shares during the period. TrueWealth Advisors LLC increased its stake in First Trust NASDAQ Technology Dividend Index Fund by 3.6% during the first quarter. TrueWealth Advisors LLC now owns 9,445 shares of the company's stock valued at $695,000 after acquiring an additional 325 shares during the period. Key Client Fiduciary Advisors LLC boosted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 5.6% during the first quarter. Key Client Fiduciary Advisors LLC now owns 3,732 shares of the company's stock valued at $275,000 after purchasing an additional 197 shares in the last quarter. Clarus Wealth Advisors boosted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 96.1% during the first quarter. Clarus Wealth Advisors now owns 9,011 shares of the company's stock valued at $645,000 after purchasing an additional 4,416 shares in the last quarter. Finally, Northern Trust Corp acquired a new position in shares of First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter worth approximately $213,000.

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.