Significant Rise in Short Interest for First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY) in December

In December, there was a notable surge in short interest for the First Trust NASDAQ Rising Dividend Achievers (NASDAQ:RDVY). As of December 15th, the short interest totaled 135,600 shares, representing an impressive increase of 141.3% from the previous total of 56,200 shares recorded on November 30th. With an average daily trading volume of 722,800 shares, the current days-to-cover ratio stands at just 0.2 days.

Recent Performance of First Trust NASDAQ Rising Dividend Achievers

During midday trading on Friday, shares of NASDAQ:RDVY experienced a decline of 0.8%, bringing the price down by $0.48 to $59.55. The trading volume reached 901,260 shares, exceeding the average volume of 726,036. The company has a 50-day moving average price of $61.53 and a 200-day moving average price of $58.51. The stock's performance over the past year saw a low of $49.60 and a high of $64.63. First Trust NASDAQ Rising Dividend Achievers currently holds a market capitalization of $12.28 billion, with a P/E ratio of 10.08 and a beta of 1.15.

Dividend Cut Announcement

Recently, the firm announced a dividend that is set to be paid on Tuesday, December 31st. Shareholders on record as of Friday, December 13th, will receive a dividend of $0.2956 per share. The ex-dividend date was also established for Friday, December 13th.

Institutional Investor Activity

Large investors have been adjusting their positions in First Trust NASDAQ Rising Dividend Achievers. JPMorgan Chase & Co. increased its stake by 135.8% during the third quarter, acquiring a total of 1,128,835 shares valued at approximately $66,838,000 after purchasing an additional 650,194 shares. Meanwhile, SMART Wealth LLC raised its stake by 21.4% in the same quarter, now owning 95,355 shares worth around $5,646,000 following a purchase of 16,777 shares. Additionally, Synovus Financial Corp grew its holdings by 56.9%, reaching 8,612 shares valued at $510,000. Wilmington Savings Fund Society FSB entered a new position valued at $104,000 during this quarter. Finally, World Investment Advisors LLC expanded its holdings by 54.9%, now owning 103,969 shares worth $6,156,000 after acquiring an additional 36,863 shares.

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. It comprises 50 large-cap stocks that offer rising, high-quality dividends. The fund was launched on January 6, 2014, and is managed by First Trust.

Investment Consideration

Before investing in First Trust NASDAQ Rising Dividend Achievers, it is essential to consider market insights. Analysts currently rate the stock as a "Hold." While this fund has its merits, other stocks may be more appealing based on recent analyst recommendations.

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