Legacy Capital Wealth Partners LLC has reduced its investment in the First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) by 17.8% during the second quarter of 2023. According to Holdings Channel, the institutional investor sold 4,456 shares, bringing its total holdings down to 20,509 shares. At the conclusion of this reporting period, these shares were valued at approximately $690,000.
Other institutional investors have also made significant adjustments to their positions in the ETF. Notably, Atria Wealth Solutions Inc. entered the market with a new stake valued at around $1,500,000. Similarly, Envestnet Portfolio Solutions Inc. acquired a position worth approximately $1,230,000 during the same period.
In addition, Signal Advisors Wealth LLC increased its holdings in the ETF by 32.9%, now owning 38,739 shares valued at $1,302,000 after purchasing an additional 9,590 shares. Goldman Sachs Group Inc. also expanded its position by 31.6%, bringing its total to 12,336 shares valued at $397,000 following an acquisition of 2,964 shares. Lastly, Farther Finance Advisors LLC entered the market with a new stake valued at about $95,000.
Current Market Performance of KNGZ
The First Trust S&P 500 Diversified Dividend Aristocrats ETF opened at $35.43 on Friday. The ETF’s fifty-day moving average is $35.30, while its two-hundred-day moving average is $34.43. With a market capitalization of $53.15 million, the ETF holds a price-to-earnings (P/E) ratio of 16.58 and a beta of 0.92. The ETF has experienced a fifty-two week low of $27.61 and a high of $36.21.
About the First Trust S&P 500 Diversified Dividend Aristocrats ETF
The First Trust S&P 500 Diversified Dividend Aristocrats ETF, launched on June 20, 2017, primarily invests in large-cap equities. It tracks a sector-neutral index within the US large-cap space, specifically selected and weighted based on dividend history and yield. This ETF serves as a potential choice for investors seeking exposure to stable dividend-paying companies.
For ongoing updates regarding hedge fund activity and other related financial insights, investors can visit HoldingsChannel.com for the latest 13F filings and insider trades related to the First Trust S&P 500 Diversified Dividend Aristocrats ETF.
