First Trust NASDAQ Rising Dividend Achievers Saw Short Interest Surge in December

The First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Get Free Report) experienced a significant rise in short interest during December. As of December 15th, short interest reached 135,600 shares, marking an increase of 141.3% from the previous month's total of 56,200 shares. With an average daily trading volume of 722,800 shares, the current days-to-cover ratio stands at just 0.2 days.

Stock Performance of First Trust NASDAQ Rising Dividend Achievers

On Friday, the shares of NASDAQ:RDVY fell by 0.8%, dropping $0.48 to a price of $59.55 during midday trading. The trading volume for this day was 901,260 shares, surpassing the average volume of 726,036 shares. The company’s 50-day moving average is $61.53, while the 200-day moving average is $58.51. Over the last year, First Trust NASDAQ Rising Dividend Achievers hit a low of $49.60 and a high of $64.63. The firm's market capitalization currently sits at $12.28 billion, with a P/E ratio of 10.08 and a beta of 1.15.

Dividend Announcement from First Trust NASDAQ Rising Dividend Achievers

Recently, the company declared a dividend which is scheduled for disbursement on Tuesday, December 31st. Shareholders of record as of Friday, December 13th will receive a dividend payment of $0.2956 per share. The ex-dividend date also falls on December 13th.

Institutional Investment Activity

Several large institutional investors have made changes to their positions in First Trust NASDAQ Rising Dividend Achievers. For instance, JPMorgan Chase & Co. increased its stake by 135.8% in the third quarter, acquiring an additional 650,194 shares for a total of 1,128,835 shares valued at $66,838,000. SMART Wealth LLC also raised its holdings by 21.4%, now totaling 95,355 shares worth $5,646,000, after purchasing 16,777 more shares. Synovus Financial Corp expanded its investment by 56.9%, bringing its total to 8,612 shares valued at $510,000 after the addition of 3,124 shares. Additionally, Wilmington Savings Fund Society FSB entered a new position worth $104,000 during the same period, while World Investment Advisors LLC increased its stake by 54.9%, resulting in ownership of 103,969 shares worth $6,156,000.

Overview of First Trust NASDAQ Rising Dividend Achievers

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that tracks the NASDAQ US Rising Dividend Achievers index. This fund includes 50 large-cap stocks known for their rising, high-quality dividends. Launched on January 6, 2014, RDVY is managed by First Trust.

Investment Considerations

Before considering an investment in First Trust NASDAQ Rising Dividend Achievers, potential investors should conduct thorough research. Analysts currently have a "Hold" rating on RDVY, indicating that while the stock is not a strong buy, it still may hold value. Some analysts are recommending alternative stocks, which might present more promising investment opportunities.

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