Five Pine Wealth Management Acquires Stake in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

During the fourth quarter, Five Pine Wealth Management made a significant investment by purchasing a new position in the First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Free Report), as detailed in their recent Form 13F filing with the Securities and Exchange Commission. This acquisition involved the purchase of 83,291 shares of the fund's stock, which is valued at approximately $4,926,000. Notably, the First Trust NASDAQ Rising Dividend Achievers now accounts for around 4.2% of Five Pine Wealth Management's overall holdings, making it the fund's seventh largest position.

In addition to Five Pine Wealth Management's investment, several other institutional investors have also recently adjusted their positions in RDVY. MBE Wealth Management LLC increased its stake by 4.2% during the same quarter, now owning 4,057 shares valued at about $240,000 after gaining an additional 163 shares. Similarly, Trueblood Wealth Management LLC grew its investment by 1.4%, acquiring 12,233 shares after purchasing an extra 167 shares, bringing its total value to $723,000. Financial Services Advisory Inc expanded its holdings by 1.2% in the previous third quarter, now owning 14,883 shares valued at $881,000 after purchasing 170 additional shares. Also, Crewe Advisors LLC's position increased by 12.5% in the third quarter, amounting to 1,635 shares worth $97,000, following an additional 182 shares acquisition. Lastly, L & S Advisors Inc raised its stake by 1.0%, owning 19,350 shares valued at $1,146,000 after buying 197 additional shares.

Performance of First Trust NASDAQ Rising Dividend Achievers

As of the latest trading day, RDVY stock opened at $62.54. The stock has a fifty-day moving average of $61.50 and a longer-term 200-day moving average of $59.57. Over the past year, First Trust NASDAQ Rising Dividend Achievers has seen a low of $50.24 and a high of $64.63. The company's total market capitalization stands at $13.60 billion, with a price-to-earnings ratio of 10.08 and a beta value of 1.15, indicating its relative volatility.

Dividend Announcement from First Trust NASDAQ Rising Dividend Achievers

Recently, the firm declared a dividend, which was paid out on Tuesday, December 31st. Shareholders who were recorded as of Friday, December 13th received a dividend of $0.2956 per share. The ex-dividend date for this distribution was also on December 13th.

Overview of First Trust NASDAQ Rising Dividend Achievers

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that is designed to track the NASDAQ US Rising Dividend Achievers index. This fund focuses on a selection of 50 large-cap stocks recognized for their high-quality dividends that are consistently increasing. First Trust launched RDVY on January 6, 2014, and the fund is actively managed by First Trust.

investment, stocks, dividends