Short Interest in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Drops By 34.4%

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 227,700 shares, a decline of 34.4% from the February 28th total of 347,100 shares. Based on an average daily volume of 1,005,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On First Trust NASDAQ Rising Dividend Achievers

Institutional investors and hedge funds have recently bought and sold shares of the business. Nestegg Advisors Inc. purchased a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth about $5,803,000. Wealth Enhancement Advisory Services LLC grew its holdings in First Trust NASDAQ Rising Dividend Achievers by 75.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 262,407 shares of the company’s stock valued at $15,519,000 after buying an additional 113,181 shares in the last quarter. Members Wealth LLC bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter valued at approximately $272,000. Keystone Financial Services LLC purchased a new position in shares of First Trust NASDAQ Rising Dividend Achievers in the fourth quarter worth $874,000. Finally, Park Square Financial Group LLC bought a new position in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth $4,454,000.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

Shares of RDVY traded up $0.51 during mid-day trading on Monday, reaching $58.54. The stock had a trading volume of 816,079 shares, compared to its average volume of 773,642. The business has a fifty day moving average of $60.99 and a 200 day moving average of $60.70. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 14.89 and a beta of 1.15. First Trust NASDAQ Rising Dividend Achievers has a 12 month low of $52.78 and a 12 month high of $64.63.

First Trust NASDAQ Rising Dividend Achievers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be issued a $0.2544 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.02 annualized dividend and a yield of 1.74%. This is an increase from First Trust NASDAQ Rising Dividend Achievers’s previous quarterly dividend of $0.19.

About First Trust NASDAQ Rising Dividend Achievers

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that is based on the NASDAQ US Rising Dividend Achievers index. The fund tracks an index of 50 large-cap stocks with rising, high-quality dividends. RDVY was launched on Jan 6, 2014 and is managed by First Trust.