First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Trading Up 2.1% - Should You 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) was up 2.1% during trading on Tuesday . The company traded as high as $92.56 and last traded at $92.55. Approximately 82,871 shares were traded during mid-day 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 Price Performance

The business has a 50 day simple moving average of $90.14 and a 200 day simple moving average of $81.52. The stock has a market cap of $3.39 billion, a PE ratio of 25.63 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were paid 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. The ex-dividend date was Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.4%.

Institutional Trading of First Trust NASDAQ Technology Dividend Index Fund

Several large investors have recently made changes to their positions in the stock. LPL Financial LLC boosted 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 worth $174,206,000 after acquiring an additional 119,189 shares in the last quarter. Raymond James Financial Inc. boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 17.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,386,401 shares of the company's stock valued at $125,012,000 after purchasing an additional 202,281 shares during the period. Bank of America Corp DE boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 16.0% during the 4th quarter. Bank of America Corp DE now owns 1,378,342 shares of the company's stock valued at $108,145,000 after purchasing an additional 190,519 shares during the period. Envestnet Asset Management Inc. boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 36.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 853,225 shares of the company's stock valued at $76,935,000 after purchasing an additional 228,524 shares during the period. Finally, Royal Bank of Canada boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 5.6% during the 1st quarter. Royal Bank of Canada now owns 486,637 shares of the company's stock valued at $35,822,000 after purchasing an additional 25,912 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.