First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Trading 1.2% Higher - Should You Buy?

Key Points

• Shares of the First Trust NASDAQ Technology Dividend Index Fund (TDIV) rose by 1.2%, reaching a last traded price of $100.04, despite a significant drop in trading volume.
• The fund recently announced a quarterly dividend of $0.2762 with a 1.1% dividend yield, reflecting a strategy to provide returns to shareholders.
• Several hedge funds have increased their holdings in TDIV, signaling a positive outlook from institutional investors on this technology-focused ETF.

Shares of First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) traded up 1.2% during trading on Wednesday . The stock traded as high as $100.75 and last traded at $100.04. 89,106 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 122,908 shares. The stock had previously closed at $98.87.

First Trust NASDAQ Technology Dividend Index Fund Stock Up 1.2%

The firm's fifty day moving average price is $95.61 and its 200 day moving average price is $86.61. The stock has a market cap of $3.80 billion, a PE ratio of 25.63 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were issued a $0.2762 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 25th.

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

Several hedge funds have recently modified their holdings of the stock. Great Valley Advisor Group Inc. lifted its holdings 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 buying an additional 119 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in First Trust NASDAQ Technology Dividend Index Fund by 2.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,867 shares of the company's stock worth $358,000 after purchasing an additional 126 shares during the last quarter. Visionary Wealth Advisors increased its position in 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. Ameritas Advisory Services LLC increased its position in First Trust NASDAQ Technology Dividend Index Fund by 4.1% in the first quarter. Ameritas Advisory Services LLC now owns 4,026 shares of the company's stock worth $314,000 after purchasing an additional 159 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in First Trust NASDAQ Technology Dividend Index Fund by 18.1% in the third quarter. Farther Finance Advisors LLC now owns 1,036 shares of the company's stock worth $102,000 after purchasing an additional 159 shares during the last quarter.

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.

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