Arax Advisory Partners Makes New Investment in First Trust SMID Cap Rising Dividend Achievers ETF $SDVY

Arax Advisory Partners bought a new stake in shares of First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 229,116 shares of the company’s stock, valued at approximately $8,780,000. Arax Advisory Partners owned about 0.09% of First Trust SMID Cap Rising Dividend Achievers ETF as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 4.8% during the 4th quarter. LPL Financial LLC now owns 24,892,169 shares of the company’s stock valued at $953,868,000 after acquiring an additional 1,135,800 shares during the last quarter. Morgan Stanley boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 0.7% during the 4th quarter. Morgan Stanley now owns 17,946,856 shares of the company’s stock valued at $687,724,000 after acquiring an additional 130,885 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 6.9% during the 3rd quarter. Raymond James Financial Inc. now owns 12,844,014 shares of the company’s stock valued at $488,323,000 after acquiring an additional 825,345 shares during the last quarter. Bank of America Corp DE boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 8.3% during the 3rd quarter. Bank of America Corp DE now owns 7,982,389 shares of the company’s stock valued at $303,486,000 after acquiring an additional 614,123 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of First Trust SMID Cap Rising Dividend Achievers ETF by 2.9% during the 4th quarter. UBS Group AG now owns 6,941,165 shares of the company’s stock valued at $265,985,000 after acquiring an additional 194,373 shares during the last quarter.

First Trust SMID Cap Rising Dividend Achievers ETF Stock Performance

NASDAQ SDVY opened at $42.38 on Friday. The company has a market capitalization of $10.97 billion, a P/E ratio of 14.54 and a beta of 1.01. First Trust SMID Cap Rising Dividend Achievers ETF has a one year low of $34.19 and a one year high of $42.89. The stock has a 50 day moving average price of $41.52 and a 200-day moving average price of $40.54.

First Trust SMID Cap Rising Dividend Achievers ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a dividend of $0.0976 per share. This represents a $0.39 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, March 26th.

First Trust SMID Cap Rising Dividend Achievers ETF Company 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.