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

First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $44.29 and last traded at $44.20, with a volume of 62550 shares trading hands. The stock had previously closed at $43.88.

First Trust Morningstar Dividend Leaders Index Price Performance

The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 19.12 and a beta of 0.90. The firm has a fifty day simple moving average of $41.60 and a 200 day simple moving average of $41.78.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index

Institutional investors and hedge funds have recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new position in shares of First Trust Morningstar Dividend Leaders Index in the 4th quarter valued at $4,574,000. Armis Advisers LLC purchased a new stake in First Trust Morningstar Dividend Leaders Index in the 4th quarter valued at about $1,113,000. Ameriflex Group Inc. acquired a new position in First Trust Morningstar Dividend Leaders Index in the fourth quarter valued at about $629,000. Formidable Asset Management LLC boosted its stake in First Trust Morningstar Dividend Leaders Index by 97.9% during the fourth quarter. Formidable Asset Management LLC now owns 31,042 shares of the exchange traded fund’s stock worth $1,250,000 after buying an additional 15,360 shares during the period. Finally, First Heartland Consultants Inc. increased its position in shares of First Trust Morningstar Dividend Leaders Index by 2.9% during the fourth quarter. First Heartland Consultants Inc. now owns 121,434 shares of the exchange traded fund’s stock valued at $4,889,000 after acquiring an additional 3,475 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.