First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Hits New 12-Month Low – Here’s Why

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $62.54 and last traded at $62.76, with a volume of 64083 shares trading hands. The stock had previously closed at $65.48.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

The company has a 50 day moving average of $78.27 and a 200 day moving average of $79.46. The firm has a market cap of $2.35 billion, a P/E ratio of 25.24 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a dividend of $0.2703 per share. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 27th. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its holdings in First Trust NASDAQ Technology Dividend Index Fund by 84.4% in the 4th quarter. AdvisorNet Financial Inc now owns 1,346 shares of the company’s stock valued at $106,000 after buying an additional 616 shares during the period. Park Avenue Securities LLC raised its position in First Trust NASDAQ Technology Dividend Index Fund by 114.6% in the fourth quarter. Park Avenue Securities LLC now owns 45,604 shares of the company’s stock worth $3,578,000 after purchasing an additional 24,355 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in First Trust NASDAQ Technology Dividend Index Fund during the fourth quarter valued at approximately $225,000. Aprio Wealth Management LLC boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 9.6% in the 4th quarter. Aprio Wealth Management LLC now owns 196,021 shares of the company’s stock valued at $15,380,000 after buying an additional 17,151 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund during the 4th quarter worth about $47,000.

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.