First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Sets New 1-Year High – Should You Buy?

Shares of First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) reached a new 52-week high on Friday . The stock traded as high as $43.12 and last traded at $43.12, with a volume of 13793 shares traded. The stock had previously closed at $42.83.

First Trust Morningstar Dividend Leaders Index Price Performance

The stock’s 50-day moving average price is $42.05 and its 200-day moving average price is $40.26. The company has a market cap of $4.52 billion, a P/E ratio of 12.51 and a beta of 0.73.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index

Hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its stake in First Trust Morningstar Dividend Leaders Index by 9.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 75,037 shares of the exchange traded fund’s stock valued at $2,887,000 after acquiring an additional 6,459 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of First Trust Morningstar Dividend Leaders Index in the 1st quarter valued at $2,342,000. Beacon Capital Management LLC acquired a new position in shares of First Trust Morningstar Dividend Leaders Index during the 1st quarter worth $124,000. Virtu Financial LLC raised its holdings in shares of First Trust Morningstar Dividend Leaders Index by 13.2% during the 1st quarter. Virtu Financial LLC now owns 67,468 shares of the exchange traded fund’s stock worth $2,596,000 after buying an additional 7,880 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of First Trust Morningstar Dividend Leaders Index by 1,056.4% during the 1st quarter. Cetera Investment Advisers now owns 2,077,685 shares of the exchange traded fund’s stock worth $79,949,000 after buying an additional 1,898,023 shares during the last quarter.

First Trust Morningstar Dividend Leaders Index Company Profile

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.