First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) Sets New 52-Week High – Should You Buy?

Shares of First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.35 and last traded at $44.13, with a volume of 290556 shares trading hands. The stock had previously closed at $43.76.

First Trust Morningstar Dividend Leaders Index Stock Performance

The company’s 50-day moving average price is $41.78 and its 200 day moving average price is $41.84. The stock has a market capitalization of $4.99 billion, a P/E ratio of 19.12 and a beta of 0.90.

Institutional Trading of First Trust Morningstar Dividend Leaders Index

Several hedge funds have recently made changes to their positions in FDL. Freedom Investment Management Inc. raised its position in First Trust Morningstar Dividend Leaders Index by 4.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 6,074 shares of the exchange traded fund’s stock valued at $255,000 after purchasing an additional 245 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of First Trust Morningstar Dividend Leaders Index by 4.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,853 shares of the exchange traded fund’s stock valued at $246,000 after acquiring an additional 250 shares during the period. CoreCap Advisors LLC raised its position in shares of First Trust Morningstar Dividend Leaders Index by 1.0% in the 4th quarter. CoreCap Advisors LLC now owns 28,411 shares of the exchange traded fund’s stock worth $1,144,000 after acquiring an additional 282 shares in the last quarter. Kovack Advisors Inc. lifted its position in shares of First Trust Morningstar Dividend Leaders Index by 1.9% during the fourth quarter. Kovack Advisors Inc. now owns 17,268 shares of the exchange traded fund’s stock valued at $695,000 after buying an additional 327 shares during the last quarter. Finally, Flynn Zito Capital Management LLC boosted its holdings in shares of First Trust Morningstar Dividend Leaders Index by 1.2% in the 4th quarter. Flynn Zito Capital Management LLC now owns 27,551 shares of the exchange traded fund’s stock valued at $1,109,000 after buying an additional 331 shares in the last quarter.

About First Trust Morningstar Dividend Leaders Index

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.