First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Sets New 12-Month High – Here’s Why

First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $42.22 and last traded at $42.18, with a volume of 60874 shares changing hands. The stock had previously closed at $42.11.

First Trust Morningstar Dividend Leaders Index Stock Performance

The company’s 50-day simple moving average is $41.25 and its 200 day simple moving average is $39.36. The company has a market cap of $4.44 billion, a PE ratio of 12.51 and a beta of 0.73.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its stake in First Trust Morningstar Dividend Leaders Index by 10.2% in the first quarter. Kingsview Wealth Management LLC now owns 34,579 shares of the exchange traded fund’s stock valued at $1,331,000 after purchasing an additional 3,211 shares during the period. D.A. Davidson & CO. boosted its position in shares of First Trust Morningstar Dividend Leaders Index by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 221,565 shares of the exchange traded fund’s stock worth $8,404,000 after purchasing an additional 2,615 shares in the last quarter. Belpointe Asset Management LLC grew its position in First Trust Morningstar Dividend Leaders Index by 9.9% during the second quarter. Belpointe Asset Management LLC now owns 17,388 shares of the exchange traded fund’s stock worth $660,000 after buying an additional 1,571 shares during the period. Aptus Capital Advisors LLC purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index during the 2nd quarter worth approximately $213,000. Finally, Spectrum Wealth Advisory Group LLC raised its holdings in First Trust Morningstar Dividend Leaders Index by 1.8% during the first quarter. Spectrum Wealth Advisory Group LLC now owns 266,043 shares of the exchange traded fund’s stock worth $10,237,000 after purchasing an additional 4,743 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.