In a strategic move, Legacy Capital Wealth Partners LLC has reduced its holdings in the First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ: KNGZ) by 17.8% during the second quarter of the year. According to data from Holdings Channel.com, the institutional investor sold 4,456 shares, leaving it with a total of 20,509 shares. This adjustment reflects a portfolio valued at approximately $690,000 at the end of the reporting period.
Several other institutional investors have also adjusted their stakes in the First Trust S&P 500 Diversified Dividend Aristocrats ETF. Notably, Atria Wealth Solutions Inc. acquired a new position in the ETF valued at around $1.5 million. Similarly, Envestnet Portfolio Solutions Inc. purchased shares worth about $1.23 million during the same quarter. Signal Advisors Wealth LLC increased its holdings by 32.9% after adding 9,590 shares, bringing its total ownership to 38,739 shares, valued at $1.302 million.
Additionally, Goldman Sachs Group Inc. raised its position by 31.6% earlier this year, now owning 12,336 shares valued at approximately $397,000. Newcomer Farther Finance Advisors LLC also bought a stake in the ETF, valued at about $95,000.
Current Market Performance
As of the latest trading session, shares of the First Trust S&P 500 Diversified Dividend Aristocrats ETF opened at $35.43. The ETF has a fifty-day moving average of $35.30 and a two-hundred-day moving average of $34.43. With a market capitalization of $53.15 million, the ETF has reported a price-to-earnings (P/E) ratio of 16.58 and a beta of 0.92. Over the past year, the ETF reached a low of $27.61 and a high of $36.21.
The First Trust S&P 500 Diversified Dividend Aristocrats ETF is designed to invest primarily in large-cap equities. It tracks a sector-neutral index that selects and weights companies based on their dividend history and yield. Launched on June 20, 2017, this ETF aims to provide investors with exposure to high-quality dividend-paying stocks.
This recent adjustment by Legacy Capital Wealth Partners LLC and other institutional investors highlights ongoing shifts in investment strategies, particularly in dividend-focused equities. The ETF’s performance and strategic adjustments by major stakeholders will continue to be monitored by market analysts and investors alike.
