First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) Sees Large Increase in Short Interest

First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 327,500 shares, an increase of 18.1% from the August 31st total of 277,400 shares. Based on an average daily volume of 700,200 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDVY. ORBA Wealth Advisors L.L.C. bought a new position in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $4,565,000. FinTrust Capital Advisors LLC acquired a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 4th quarter valued at $230,000. Steward Partners Investment Solutions LLC bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 4th quarter worth about $1,903,000. Oppenheimer & Co. Inc. increased its position in shares of First Trust NASDAQ Rising Dividend Achievers by 25.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 110,903 shares of the company’s stock worth $5,730,000 after purchasing an additional 22,488 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its position in shares of First Trust NASDAQ Rising Dividend Achievers by 11.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 816,415 shares of the company’s stock worth $42,184,000 after purchasing an additional 83,474 shares in the last quarter.

First Trust NASDAQ Rising Dividend Achievers Stock Up 0.3 %

RDVY traded up $0.20 during trading on Friday, reaching $58.95. 1,467,454 shares of the company’s stock were exchanged, compared to its average volume of 730,669. The company has a market capitalization of $11.73 billion, a P/E ratio of 10.08 and a beta of 1.15. The business has a 50 day moving average price of $57.13 and a 200 day moving average price of $55.71. First Trust NASDAQ Rising Dividend Achievers has a fifty-two week low of $43.30 and a fifty-two week high of $59.38.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.1912 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.76 annualized dividend and a dividend yield of 1.30%.

About First Trust NASDAQ Rising Dividend Achievers

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.