First Trust Dividend Strength ETF (NASDAQ:FTDS) Trading Up 2.4% – Here’s Why

Shares of First Trust Dividend Strength ETF (NASDAQ:FTDS) were up 2.4% on Wednesday . The company traded as high as $62.01 and last traded at $62.00. Approximately 484 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,804 shares. The stock had previously closed at $60.56.

First Trust Dividend Strength ETF Price Performance

The firm has a market cap of $31 million, a P/E ratio of 14.53 and a beta of 0.96. The company has a fifty day moving average of $57.97 and a 200-day moving average of $55.94.

First Trust Dividend Strength ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a $0.2484 dividend. This represents a $0.99 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, December 12th. This is a positive change from First Trust Dividend Strength ETF’s previous quarterly dividend of $0.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FTDS. Harbour Investments Inc. grew its position in First Trust Dividend Strength ETF by 40.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,710 shares of the company’s stock worth $89,000 after purchasing an additional 495 shares in the last quarter. Truist Financial Corp purchased a new position in shares of First Trust Dividend Strength ETF in the 4th quarter worth approximately $220,000. Key Client Fiduciary Advisors LLC purchased a new position in shares of First Trust Dividend Strength ETF in the 4th quarter worth approximately $230,000. PFG Investments LLC bought a new position in shares of First Trust Dividend Strength ETF in the fourth quarter valued at approximately $305,000. Finally, AE Wealth Management LLC increased its position in shares of First Trust Dividend Strength ETF by 23.0% during the second quarter. AE Wealth Management LLC now owns 7,662 shares of the company’s stock valued at $400,000 after acquiring an additional 1,435 shares during the last quarter.

About First Trust Dividend Strength ETF

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio. FTDS was launched on Dec 6, 2006 and is managed by First Trust.