Convergence Financial LLC Takes $765,000 Position in First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Convergence Financial LLC acquired a new position in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) during the 3rd quarter, Holdings Channel reports. The firm acquired 20,133 shares of the company’s stock, valued at approximately $765,000.

Several other hedge funds have also bought and sold shares of the company. Silver Oak Securities Incorporated increased its position in First Trust SMID Cap Rising Dividend Achievers ETF by 54.8% during the third quarter. Silver Oak Securities Incorporated now owns 87,799 shares of the company’s stock worth $3,338,000 after acquiring an additional 31,072 shares during the period. Commonwealth Equity Services LLC raised its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 17.1% in the third quarter. Commonwealth Equity Services LLC now owns 3,384,431 shares of the company’s stock valued at $128,674,000 after buying an additional 494,306 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 17.2% in the third quarter. Formidable Asset Management LLC now owns 87,779 shares of the company’s stock valued at $3,097,000 after buying an additional 12,862 shares during the period. Dagco Inc. grew its position in First Trust SMID Cap Rising Dividend Achievers ETF by 4.8% during the third quarter. Dagco Inc. now owns 359,049 shares of the company’s stock worth $13,651,000 after buying an additional 16,391 shares in the last quarter. Finally, Precedent Wealth Partners LLC raised its holdings in First Trust SMID Cap Rising Dividend Achievers ETF by 14.3% in the 3rd quarter. Precedent Wealth Partners LLC now owns 244,732 shares of the company’s stock valued at $9,305,000 after acquiring an additional 30,683 shares in the last quarter.

First Trust SMID Cap Rising Dividend Achievers ETF Stock Performance

NASDAQ:SDVY opened at $42.53 on Friday. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 14.54 and a beta of 1.12. First Trust SMID Cap Rising Dividend Achievers ETF has a fifty-two week low of $28.84 and a fifty-two week high of $42.89. The stock has a fifty day moving average price of $40.37 and a 200-day moving average price of $38.63.

First Trust SMID Cap Rising Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a $0.1305 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.52 annualized dividend and a yield of 1.2%. This is an increase from First Trust SMID Cap Rising Dividend Achievers ETF’s previous quarterly dividend of $0.10.

First Trust SMID Cap Rising Dividend Achievers ETF Profile

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.