International Assets Investment Management LLC Sells Majority Stake in First Trust NASDAQ Rising Dividend Achievers

International Assets Investment Management LLC has significantly reduced its investment in First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY - Free Report), cutting its stake by 98.3% in the fourth quarter. This change was detailed in the firm’s recent 13F report filed with the Securities and Exchange Commission. Following this reduction, the institutional investor now holds 117,360 shares of RDVY after selling 6,685,934 shares during the quarter. At the time of its latest filing, International Assets Investment Management LLC’s ownership amounted to approximately 0.05% of First Trust NASDAQ Rising Dividend Achievers, valued at $6,923,000.

Along with International Assets Investment Management, various other hedge funds have also adjusted their stakes in RDVY. For instance, Spectrum Wealth Advisory Group LLC acquired a new position in the fund during the third quarter, investing around $12,392,000. D.A. Davidson & Co. raised its holdings by 4.5% in the same period, bringing its total shares to 674,180, valued at approximately $39,918,000 after adding 29,294 shares. Additionally, Perennial Investment Advisors LLC increased its stake by 6.5% in the second quarter, now owning 324,521 shares worth $17,767,000 after a purchase of 19,794 shares. Claro Advisors LLC also grew its position by 29.3%, owning 62,771 shares valued at $3,717,000 after acquiring 14,235 shares recently. Finally, Elios Financial Group Inc. established a new stake in the third quarter, valued at about $6,731,000.

First Trust NASDAQ Rising Dividend Achievers Stock Overview

On Wednesday, the stock of NASDAQ:RDVY experienced a decline of $0.48, trading at $59.56. The trading volume was 99,732 shares, which is lower than the average volume of 707,419 shares. The stock has a 50-day moving average at $61.49 and a 200-day moving average at $58.83. Over the past year, the stock reached a low of $49.60 and a high of $64.63. The market capitalization stands at $12.78 billion, reflecting a price-to-earnings ratio of 10.08 and a beta of 1.15.

Dividend Declaration

Recently, the business announced a dividend payment, which was distributed on December 31. Stockholders on record as of December 13 received a dividend of $0.2956. The ex-dividend date for this payment was also the 13th of December.

About First Trust NASDAQ Rising Dividend Achievers

The First Trust Rising Dividend Achievers ETF (RDVY) is an exchange-traded fund that follows the NASDAQ US Rising Dividend Achievers index. This fund aims to track 50 large-cap stocks that have consistently increased their high-quality dividends. RDVY was established on January 6, 2014, and is managed by First Trust.

investment, reduction, dividend