First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Reaches New 52-Week High – What’s Next?

First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $42.95 and last traded at $42.93, with a volume of 2722 shares traded. The stock had previously closed at $42.02.

First Trust Morningstar Dividend Leaders Index Price Performance

The stock’s 50 day moving average is $41.83 and its two-hundred day moving average is $39.88. The stock has a market capitalization of $4.44 billion, a PE ratio of 12.51 and a beta of 0.73.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC boosted its holdings in shares of First Trust Morningstar Dividend Leaders Index by 124.5% in the second quarter. Pathway Financial Advisers LLC now owns 723 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index during the third quarter worth $39,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index during the second quarter worth $38,000. Blue Trust Inc. acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index during the third quarter worth $46,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index by 339.2% during the third quarter. Valley National Advisers Inc. now owns 2,534 shares of the exchange traded fund’s stock worth $105,000 after purchasing an additional 1,957 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.