First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Trading 2.1% Higher - Still a Buy?

Key Points

• The First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) saw its stock price increase by 2.1%, trading at $92.55, following a previous close of $90.65.
• TDIV has recently increased its quarterly dividend to $0.3191, reflecting an annualized yield of 1.4% compared to the previous dividend of $0.27.
• Institutional investors have shown significant interest in TDIV, with Envestnet Asset Management increasing its position by 36.6% in the 2nd quarter.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report) rose 2.1% on Tuesday . The company traded as high as $92.56 and last traded at $92.55. Approximately 82,871 shares were traded during trading, a decline of 36% from the average daily volume of 129,667 shares. The stock had previously closed at $90.65.

First Trust NASDAQ Technology Dividend Index Fund Stock Down 0.8%

The business's 50 day simple moving average is $89.98 and its two-hundred day simple moving average is $81.42. The stock has a market cap of $3.39 billion, a P/E ratio of 25.63 and a beta of 1.00.

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 paid a $0.3191 dividend. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ Technology Dividend Index Fund

Several institutional investors have recently modified their holdings of the business. Visionary Wealth Advisors grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 3.0% in the second quarter. Visionary Wealth Advisors now owns 5,460 shares of the company's stock worth $492,000 after purchasing an additional 157 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 2.3% in the second quarter. Snowden Capital Advisors LLC now owns 54,400 shares of the company's stock worth $4,905,000 after purchasing an additional 1,228 shares during the last quarter. MML Investors Services LLC grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 10.1% in the second quarter. MML Investors Services LLC now owns 72,336 shares of the company's stock worth $6,523,000 after purchasing an additional 6,636 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 1.0% in the second quarter. Great Valley Advisor Group Inc. now owns 12,361 shares of the company's stock worth $1,115,000 after purchasing an additional 119 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 7.5% in the second quarter. Benjamin Edwards Inc. now owns 132,965 shares of the company's stock worth $11,989,000 after purchasing an additional 9,262 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.