PMG Wealth Management Inc. Makes New Investment in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY)

PMG Wealth Management Inc. bought a new position in shares of First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,581 shares of the company’s stock, valued at approximately $1,099,000. First Trust NASDAQ Rising Dividend Achievers makes up 1.0% of PMG Wealth Management Inc.’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of RDVY. Sugarloaf Wealth Management LLC bought a new stake in First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth about $40,000. Sound Income Strategies LLC acquired a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the 4th quarter worth approximately $40,000. Eastern Bank bought a new stake in shares of First Trust NASDAQ Rising Dividend Achievers during the fourth quarter worth approximately $57,000. Blue Trust Inc. lifted its holdings in First Trust NASDAQ Rising Dividend Achievers by 2,807.1% in the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock valued at $72,000 after buying an additional 1,179 shares during the period. Finally, Crewe Advisors LLC boosted its stake in First Trust NASDAQ Rising Dividend Achievers by 12.5% in the third quarter. Crewe Advisors LLC now owns 1,635 shares of the company’s stock valued at $97,000 after acquiring an additional 182 shares during the last quarter.

First Trust NASDAQ Rising Dividend Achievers Stock Performance

RDVY opened at $61.25 on Friday. The company has a fifty day moving average price of $61.24 and a two-hundred day moving average price of $60.12. The firm has a market capitalization of $13.65 billion, a PE ratio of 14.00 and a beta of 1.13. First Trust NASDAQ Rising Dividend Achievers has a 52 week low of $51.90 and a 52 week high of $64.63.

First Trust NASDAQ Rising Dividend Achievers Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.2956 dividend. The ex-dividend date was Friday, December 13th.

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.