First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Sets New 1-Year High – Here’s Why

First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.35 and last traded at $44.13, with a volume of 290556 shares. The stock had previously closed at $43.76.

First Trust Morningstar Dividend Leaders Index Trading Down 0.0 %

The stock’s fifty day moving average price is $41.78 and its two-hundred day moving average price is $41.84. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 19.12 and a beta of 0.90.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in First Trust Morningstar Dividend Leaders Index in the fourth quarter valued at about $4,574,000. Armis Advisers LLC acquired a new stake in First Trust Morningstar Dividend Leaders Index in the fourth quarter valued at $1,113,000. Ameriflex Group Inc. acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index in the fourth quarter valued at about $629,000. Formidable Asset Management LLC grew its position in First Trust Morningstar Dividend Leaders Index by 97.9% during the fourth quarter. Formidable Asset Management LLC now owns 31,042 shares of the exchange traded fund’s stock worth $1,250,000 after buying an additional 15,360 shares during the period. Finally, First Heartland Consultants Inc. lifted its position in shares of First Trust Morningstar Dividend Leaders Index by 2.9% during the 4th quarter. First Heartland Consultants Inc. now owns 121,434 shares of the exchange traded fund’s stock valued at $4,889,000 after acquiring an additional 3,475 shares during the period.

About First Trust Morningstar Dividend Leaders Index

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index.