Sovereign Financial Group Inc. Acquires 6,005 Shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Sovereign Financial Group Inc. boosted its holdings in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 5.5% during the third quarter, HoldingsChannel reports. The fund owned 114,762 shares of the company’s stock after purchasing an additional 6,005 shares during the quarter. First Trust NASDAQ Rising Dividend Achievers comprises 1.6% of Sovereign Financial Group Inc.’s holdings, making the stock its 12th largest position. Sovereign Financial Group Inc.’s holdings in First Trust NASDAQ Rising Dividend Achievers were worth $6,795,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in First Trust NASDAQ Rising Dividend Achievers by 24,700.0% during the 1st quarter. BNP Paribas Financial Markets now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 494 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 2nd quarter valued at $29,000. Kings Path Partners LLC bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 2nd quarter valued at $31,000. Russell Investments Group Ltd. bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 1st quarter valued at $34,000. Finally, Rothschild Investment LLC bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers in the 2nd quarter valued at $34,000.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

NASDAQ:RDVY opened at $58.92 on Wednesday. The firm’s fifty day moving average is $57.35 and its 200-day moving average is $55.91. First Trust NASDAQ Rising Dividend Achievers has a 52 week low of $43.30 and a 52 week high of $59.62. The firm has a market cap of $12.04 billion, a P/E ratio of 10.08 and a beta of 1.15.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a $0.1912 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, September 26th.

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.