Miracle Mile Advisors LLC Invests $620,000 in First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY)

Miracle Mile Advisors LLC acquired a new position in shares of First Trust Rising Dividend Achievers ETF (NASDAQ:RDVY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,588 shares of the company’s stock, valued at approximately $620,000.

Several other large investors also recently made changes to their positions in RDVY. Strategic Financial Concepts LLC bought a new stake in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter worth $2,145,000. Stephens Inc. AR increased its position in shares of First Trust Rising Dividend Achievers ETF by 85.7% during the fourth quarter. Stephens Inc. AR now owns 85,799 shares of the company’s stock worth $5,074,000 after acquiring an additional 39,590 shares in the last quarter. POM Investment Strategies LLC increased its position in shares of First Trust Rising Dividend Achievers ETF by 0.8% during the fourth quarter. POM Investment Strategies LLC now owns 136,217 shares of the company’s stock worth $8,056,000 after acquiring an additional 1,021 shares in the last quarter. Focus Financial Network Inc. increased its position in shares of First Trust Rising Dividend Achievers ETF by 77.1% during the fourth quarter. Focus Financial Network Inc. now owns 94,132 shares of the company’s stock worth $5,567,000 after acquiring an additional 40,989 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of First Trust Rising Dividend Achievers ETF during the fourth quarter worth $578,000.

First Trust Rising Dividend Achievers ETF Stock Up 0.4%

Shares of RDVY stock opened at $61.61 on Wednesday. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 15.48 and a beta of 1.15. First Trust Rising Dividend Achievers ETF has a 12-month low of $50.27 and a 12-month high of $64.63. The firm has a fifty day moving average of $57.91 and a 200-day moving average of $59.89.

First Trust Rising Dividend Achievers ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a $0.2544 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.02 dividend on an annualized basis and a yield of 1.65%. This is an increase from First Trust Rising Dividend Achievers ETF’s previous quarterly dividend of $0.19.

First Trust Rising Dividend Achievers ETF Profile

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.