International Assets Investment Management LLC Cuts Stake in First Trust NASDAQ Rising Dividend Achievers

International Assets Investment Management LLC has made a significant reduction in its investment in the First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by decreasing its holdings by 98.3% during the fourth quarter, according to the recent 13F filing with the Securities and Exchange Commission (SEC). Following this sell-off, the institutional investor now holds 117,360 shares of the ETF after disposing of 6,685,934 shares throughout the quarter. As of the latest filing with the SEC, International Assets Investment Management LLC owned roughly 0.05% of the First Trust NASDAQ Rising Dividend Achievers, which is valued at approximately $6,923,000.

In addition, several other hedge funds have made adjustments to their investments in RDVY. For instance, Spectrum Wealth Advisory Group LLC established a new investment in First Trust NASDAQ Rising Dividend Achievers in the third quarter, estimated to be worth around $12,392,000. Similarly, D.A. Davidson & CO. boosted its stake by 4.5% during the same period, leading to a total ownership of 674,180 shares valued at $39,918,000 after acquiring an additional 29,294 shares. Perennial Investment Advisors LLC also increased its position in the ETF by 6.5% during the second quarter, now owning 324,521 shares worth about $17,767,000 after purchasing 19,794 additional shares. Claro Advisors LLC grew its stake by 29.3% during the third quarter, now holding 62,771 shares valued at $3,717,000. Elios Financial Group Inc. joined the trend by acquiring a new stake in the ETF during the third quarter for about $6,731,000.

First Trust NASDAQ Rising Dividend Achievers Performance

On Wednesday, shares of NASDAQ:RDVY experienced a decline of $0.48, closing at $59.56. The trading volume for the day was 99,732 shares, compared to the average volume of 707,419. Over the past three months, the stock’s 50-day moving average stands at $61.49, with a 200-day moving average of $58.83. The ETF has a 52-week low of $49.60 and a 52-week high of $64.63, with a market capitalization of $12.78 billion. The price-to-earnings (PE) ratio reported is 10.08, and the stock has a beta of 1.15, indicating that it is slightly more volatile than the market.

First Trust NASDAQ Rising Dividend Achievers Dividend Announcement

The ETF recently declared a dividend that was issued on December 31st. Shareholders on record as of December 13th were entitled to a dividend of $0.2956. The ex-dividend date for this payment was also on December 13th.

Overview of First Trust NASDAQ Rising Dividend Achievers

The First Trust Rising Dividend Achievers ETF (RDVY) is designed to follow the NASDAQ US Rising Dividend Achievers Index. The fund invests in an index comprising 50 large-cap companies that are recognized for their steadily increasing, high-quality dividends. The ETF was launched on January 6, 2014, and is managed by First Trust.

Investment, Dividend, Stocks