First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Trading 2.2% Higher - Time to Buy?

Key Points

• TDIV shares rose 2.2% to $116.88 in mid-day trading, reaching as high as $117.20, while trading volume was about 40% below the average session volume.
• The ETF increased its quarterly dividend to $0.4231 per share from $0.32, implying an annualized payout of $1.69 and a 1.4% yield.
• Several institutional investors recently established or expanded positions in TDIV, which tracks a dividend-weighted index of U.S.-listed technology companies.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - )'s stock price shot up 2.2% during mid-day trading on Friday . The company traded as high as $117.20 and last traded at $116.88. Approximately 77,033 shares were traded during mid-day trading, a decline of 40% from the average session volume of 128,669 shares. The stock had previously closed at $114.35.

First Trust NASDAQ Technology Dividend Index Fund Stock Up 2.2%

The firm has a 50 day simple moving average of $113.34 and a 200-day simple moving average of $108.94. The company has a market cap of $4.47 billion, a PE ratio of 25.63 and a beta of 1.17.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.4231 per share. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.32. This represents a $1.69 dividend on an annualized basis and a yield of 1.4%.

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

Several institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in shares of First Trust NASDAQ Technology Dividend Index Fund during the second quarter worth $25,000. Root Financial Partners LLC acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter worth $33,000. Torren Management LLC purchased a new position in First Trust NASDAQ Technology Dividend Index Fund during the 1st quarter worth $37,000. Sunbelt Securities Inc. grew its stake in First Trust NASDAQ Technology Dividend Index Fund by 65.4% during the 1st quarter. Sunbelt Securities Inc. now owns 506 shares of the company's stock worth $47,000 after buying an additional 200 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in First Trust NASDAQ Technology Dividend Index Fund by 41.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 516 shares of the company's stock valued at $50,000 after buying an additional 152 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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