First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sets New 1-Year High – What’s Next?

by · The Cerbat Gem

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL – Get Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $46.50 and last traded at $46.4560, with a volume of 1778987 shares traded. The stock had previously closed at $45.81.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 1.4%

The firm’s 50-day simple moving average is $44.43 and its 200-day simple moving average is $43.66. The firm has a market capitalization of $6.47 billion, a PE ratio of 13.96 and a beta of 0.73.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 6.7% in the third quarter. Raymond James Financial Inc. now owns 4,511,414 shares of the exchange traded fund’s stock valued at $195,840,000 after purchasing an additional 285,187 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.2% in the third quarter. Ameriprise Financial Inc. now owns 3,998,214 shares of the exchange traded fund’s stock worth $173,422,000 after buying an additional 87,037 shares during the period. Bank of America Corp DE boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 6.2% during the 2nd quarter. Bank of America Corp DE now owns 2,515,726 shares of the exchange traded fund’s stock valued at $105,333,000 after buying an additional 146,164 shares during the period. Cetera Investment Advisers boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 11.5% during the 2nd quarter. Cetera Investment Advisers now owns 2,075,810 shares of the exchange traded fund’s stock valued at $86,914,000 after buying an additional 213,565 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in First Trust Morningstar Dividend Leaders Index Fund by 4.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,806,321 shares of the exchange traded fund’s stock worth $78,412,000 after acquiring an additional 73,063 shares during the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

(Get Free Report)

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. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.

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