Silver Oak Securities Incorporated has significantly increased its investment in the First Trust SMID Cap Rising Dividend Achievers ETF, also known as NASDAQ:SDVY, by 54.8% during the third quarter of this year. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor now holds 87,799 shares of the ETF after acquiring an additional 31,072 shares in the quarter. The total value of Silver Oak Securities’ holdings in the ETF amounts to approximately $3.34 million as per the latest SEC disclosure.
Multiple other institutional investors have also made changes to their positions in the First Trust SMID Cap Rising Dividend Achievers ETF. For instance, Hantz Financial Services Inc. initiated a new stake in the ETF during the second quarter, valued at around $33,000. Similarly, Fifth Third Bancorp increased its stake by 120.9% in the same period, now owning 952 shares worth about $34,000 after purchasing an additional 521 shares.
Atlantic Union Bankshares Corp also acquired a new position valued at approximately $34,000, while Princeton Global Asset Management LLC purchased shares during the third quarter for about $36,000. Additionally, Winnow Wealth LLC bought a new stake in the ETF during the second quarter valued at approximately $42,000.
Market Performance and Fund Overview
On Friday, shares of First Trust SMID Cap Rising Dividend Achievers ETF opened at $38.32. Over the past year, the ETF has experienced a twelve-month low of $28.84 and a high of $39.60. The company boasts a market capitalization of $9.21 billion, a price-to-earnings ratio of 14.54, and a beta of 1.12. Its 50-day moving average stands at $38.16, while the 200-day moving average is at $37.34.
The First Trust SMID Cap Rising Dividend Achievers ETF, launched on November 1, 2017, primarily invests in small- and mid-cap US companies that have a history of increasing dividends. The fund seeks to track an equal-weighted index of these companies, which must also meet various fundamental criteria to be included.
As the market continues to evolve, the increasing stakes by institutional investors highlight the growing interest in the First Trust SMID Cap Rising Dividend Achievers ETF, indicating potential confidence in its performance and dividend growth prospects.
