Sovereign Financial Group Inc. Increases Position in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

Sovereign Financial Group Inc. raised its position in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,758 shares of the company’s stock after buying an additional 11,552 shares during the period. First Trust NASDAQ Rising Dividend Achievers comprises about 1.4% of Sovereign Financial Group Inc.’s holdings, making the stock its 15th largest holding. Sovereign Financial Group Inc. owned about 0.05% of First Trust NASDAQ Rising Dividend Achievers worth $4,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Beaumont Financial Advisors LLC acquired a new position in First Trust NASDAQ Rising Dividend Achievers in the 4th quarter valued at about $2,546,000. Perigon Wealth Management LLC increased its stake in First Trust NASDAQ Rising Dividend Achievers by 365.8% during the 4th quarter. Perigon Wealth Management LLC now owns 60,833 shares of the company’s stock worth $3,143,000 after buying an additional 47,774 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $1,665,000. Atria Wealth Solutions Inc. boosted its position in First Trust NASDAQ Rising Dividend Achievers by 13.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 494,573 shares of the company’s stock valued at $25,555,000 after buying an additional 60,369 shares during the period. Finally, RVW Wealth LLC grew its stake in shares of First Trust NASDAQ Rising Dividend Achievers by 4.4% in the fourth quarter. RVW Wealth LLC now owns 615,092 shares of the company’s stock worth $31,782,000 after acquiring an additional 25,894 shares in the last quarter.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

Shares of First Trust NASDAQ Rising Dividend Achievers stock traded down $0.07 during trading hours on Wednesday, reaching $54.76. 646,226 shares of the company were exchanged, compared to its average volume of 783,212. The firm has a market cap of $10.36 billion, a PE ratio of 9.78 and a beta of 1.15. First Trust NASDAQ Rising Dividend Achievers has a 1 year low of $42.93 and a 1 year high of $56.28. The stock’s fifty day moving average is $54.41 and its 200 day moving average is $51.22.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.2238 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.90 annualized dividend and a yield of 1.63%.

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.