Envestnet Portfolio Solutions Inc. Purchases 44,324 Shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY)

Envestnet Portfolio Solutions Inc. grew its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) by 71.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 106,418 shares of the company’s stock after buying an additional 44,324 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in First Trust SMID Cap Rising Dividend Achievers ETF were worth $3,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. LPL Financial LLC lifted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 22.0% during the 4th quarter. LPL Financial LLC now owns 21,935,886 shares of the company’s stock worth $786,401,000 after buying an additional 3,948,772 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 20.6% during the 4th quarter. Wells Fargo & Company MN now owns 12,732,120 shares of the company’s stock worth $456,447,000 after buying an additional 2,172,523 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of First Trust SMID Cap Rising Dividend Achievers ETF during the 4th quarter worth approximately $381,301,000. Bank of America Corp DE increased its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 23.0% during the 4th quarter. Bank of America Corp DE now owns 7,099,053 shares of the company’s stock worth $254,501,000 after purchasing an additional 1,327,323 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 28.5% in the 4th quarter. Royal Bank of Canada now owns 5,599,081 shares of the company’s stock worth $200,728,000 after purchasing an additional 1,241,896 shares during the period.

First Trust SMID Cap Rising Dividend Achievers ETF Stock Performance

NASDAQ:SDVY opened at $34.39 on Friday. The stock has a market capitalization of $7.94 billion, a PE ratio of 13.85 and a beta of 1.12. The firm’s 50 day moving average is $33.72 and its 200 day moving average is $34.87. First Trust SMID Cap Rising Dividend Achievers ETF has a 12 month low of $28.84 and a 12 month high of $40.60.

First Trust SMID Cap Rising Dividend Achievers ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a $0.1576 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, March 27th. This is a boost from First Trust SMID Cap Rising Dividend Achievers ETF’s previous quarterly dividend of $0.14.

About First Trust SMID Cap Rising Dividend Achievers ETF

The First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of small- and mid-cap US companies with historically increasing dividends and that meet various fundamental criteria. SDVY was launched on Nov 1, 2017 and is managed by First Trust.