First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Reaches New 1-Year High – Time to Buy?

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $52.10 and last traded at $51.8670, with a volume of 61505 shares traded. The stock had previously closed at $51.24.

First Trust Morningstar Dividend Leaders Index Fund Trading Down 0.3%

The firm’s fifty day moving average price is $49.93 and its 200-day moving average price is $49.29. The company has a market cap of $7.66 billion, a P/E ratio of 13.96 and a beta of 0.58.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lighthouse Wealth Management Inc. raised its position in First Trust Morningstar Dividend Leaders Index Fund by 20.2% in the fourth quarter. Lighthouse Wealth Management Inc. now owns 25,834 shares of the exchange traded fund’s stock worth $1,145,000 after purchasing an additional 4,347 shares in the last quarter. Randall & Associates Wealth Management lifted its stake in First Trust Morningstar Dividend Leaders Index Fund by 3.2% during the fourth quarter. Randall & Associates Wealth Management now owns 183,333 shares of the exchange traded fund’s stock worth $8,129,000 after purchasing an additional 5,716 shares during the period. Bell Bank boosted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 148.5% during the fourth quarter. Bell Bank now owns 17,042 shares of the exchange traded fund’s stock valued at $756,000 after purchasing an additional 10,184 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 1.6% during the fourth quarter. KMG Fiduciary Partners LLC now owns 24,906 shares of the exchange traded fund’s stock valued at $1,104,000 after purchasing an additional 384 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 3.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 168,449 shares of the exchange traded fund’s stock valued at $7,567,000 after purchasing an additional 5,549 shares during the period.

About First Trust Morningstar Dividend Leaders Index Fund

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. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.