First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Hits New 12-Month High – Should You Buy?

Shares of First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) hit a new 52-week high during trading on Wednesday . The company traded as high as $42.95 and last traded at $42.93, with a volume of 2722 shares traded. The stock had previously closed at $42.02.

First Trust Morningstar Dividend Leaders Index Price Performance

The business’s 50 day simple moving average is $41.77 and its 200-day simple moving average is $39.84. The stock has a market capitalization of $4.47 billion, a P/E ratio of 12.51 and a beta of 0.73.

Institutional Trading of First Trust Morningstar Dividend Leaders Index

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Counselors Inc. bought a new position in First Trust Morningstar Dividend Leaders Index during the first quarter worth about $208,000. Advisory Alpha LLC increased its stake in shares of First Trust Morningstar Dividend Leaders Index by 5.8% in the 1st quarter. Advisory Alpha LLC now owns 161,021 shares of the exchange traded fund’s stock valued at $6,196,000 after purchasing an additional 8,893 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of First Trust Morningstar Dividend Leaders Index by 2.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 62,171 shares of the exchange traded fund’s stock worth $2,392,000 after buying an additional 1,468 shares in the last quarter. WMG Financial Advisors LLC boosted its stake in First Trust Morningstar Dividend Leaders Index by 5.6% in the first quarter. WMG Financial Advisors LLC now owns 12,563 shares of the exchange traded fund’s stock valued at $483,000 after buying an additional 661 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in First Trust Morningstar Dividend Leaders Index by 4.9% in the first quarter. Avantax Advisory Services Inc. now owns 273,941 shares of the exchange traded fund’s stock valued at $10,541,000 after acquiring an additional 12,798 shares during the last quarter.

About First Trust Morningstar Dividend Leaders Index

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index.