Kovack Advisors Inc. Acquires 30,983 Shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Kovack Advisors Inc. raised its position in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 59.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,701 shares of the company’s stock after acquiring an additional 30,983 shares during the period. Kovack Advisors Inc.’s holdings in First Trust NASDAQ Rising Dividend Achievers were worth $4,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $25,000. Hazlett Burt & Watson Inc. raised its holdings in shares of First Trust NASDAQ Rising Dividend Achievers by 87.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 478 shares of the company’s stock worth $25,000 after acquiring an additional 223 shares in the last quarter. PFG Private Wealth Management LLC purchased a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $26,000. Arlington Trust Co LLC purchased a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $29,000. Finally, Grove Bank & Trust purchased a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $42,000.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

Shares of RDVY traded down $0.07 during mid-day trading on Thursday, hitting $54.88. 506,397 shares of the stock were exchanged, compared to its average volume of 739,188. The company has a market cap of $10.39 billion, a PE ratio of 10.08 and a beta of 1.15. First Trust NASDAQ Rising Dividend Achievers has a 52-week low of $43.30 and a 52-week high of $56.28. The firm has a 50-day moving average of $54.77 and a two-hundred day moving average of $53.47.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were issued a dividend of $0.2616 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.05 annualized dividend and a yield of 1.91%.

First Trust NASDAQ Rising Dividend Achievers Company Profile

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.