Kovack Advisors Inc. Lowers Stock Holdings in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Kovack Advisors Inc. reduced its position in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,718 shares of the company’s stock after selling 1,528 shares during the period. Kovack Advisors Inc.’s holdings in First Trust NASDAQ Rising Dividend Achievers were worth $2,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RDVY. Farmers & Merchants Investments Inc. purchased a new position in First Trust NASDAQ Rising Dividend Achievers in the fourth quarter valued at $25,000. Hazlett Burt & Watson Inc. boosted its holdings in First Trust NASDAQ Rising Dividend Achievers by 87.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 478 shares of the company’s stock valued at $25,000 after purchasing an additional 223 shares during the period. PFG Private Wealth Management LLC purchased a new position in First Trust NASDAQ Rising Dividend Achievers in the fourth quarter valued at $26,000. Arlington Trust Co LLC purchased a new position in First Trust NASDAQ Rising Dividend Achievers in the fourth quarter valued at $29,000. Finally, Grove Bank & Trust purchased a new position in First Trust NASDAQ Rising Dividend Achievers in the fourth quarter valued at $42,000.

First Trust NASDAQ Rising Dividend Achievers Trading Down 0.1 %

NASDAQ:RDVY traded down $0.03 during midday trading on Friday, reaching $54.24. The company had a trading volume of 675,886 shares, compared to its average volume of 798,541. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 9.85 and a beta of 1.15. The stock’s fifty day simple moving average is $54.14 and its 200-day simple moving average is $50.73. First Trust NASDAQ Rising Dividend Achievers has a 12-month low of $42.42 and a 12-month high of $56.28.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were paid a $0.2238 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 21st.

First Trust NASDAQ Rising Dividend Achievers 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.