First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sets New 52-Week High - Should You Buy?

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $87.40 and last traded at $87.16, with a volume of 75059 shares traded. The stock had previously closed at $86.02.

First Trust NASDAQ Technology Dividend Index Fund Trading Up 1.3%

The business's 50-day simple moving average is $77.55 and its 200-day simple moving average is $78.27. The company has a market capitalization of $3.17 billion, a PE ratio of 25.15 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a dividend of $0.2703 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, March 27th. This is a boost from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 5.3% during the 1st quarter. LPL Financial LLC now owns 2,366,613 shares of the company's stock valued at $174,206,000 after buying an additional 119,189 shares during the last quarter. Bank of America Corp DE raised its position in First Trust NASDAQ Technology Dividend Index Fund by 16.0% during the fourth quarter. Bank of America Corp DE now owns 1,378,342 shares of the company's stock valued at $108,145,000 after acquiring an additional 190,519 shares in the last quarter. Raymond James Financial Inc. acquired a new position in First Trust NASDAQ Technology Dividend Index Fund in the fourth quarter valued at approximately $96,385,000. Envestnet Asset Management Inc. lifted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 6.7% in the first quarter. Envestnet Asset Management Inc. now owns 624,701 shares of the company's stock valued at $45,984,000 after acquiring an additional 39,331 shares during the period. Finally, Royal Bank of Canada boosted its position in First Trust NASDAQ Technology Dividend Index Fund by 5.6% in the 1st quarter. Royal Bank of Canada now owns 486,637 shares of the company's stock worth $35,822,000 after purchasing an additional 25,912 shares in 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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