Silver Oak Securities Incorporated has significantly increased its investment in the First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ: SDVY) by 54.8% during the third quarter of 2023. According to a recent disclosure filed with the Securities and Exchange Commission, the institutional investor now holds 87,799 shares of the ETF, having acquired an additional 31,072 shares in this period. The total value of Silver Oak’s holdings in the ETF is approximately $3,338,000.
This move reflects a broader trend among institutional investors, with several other firms also modifying their positions in the ETF. For instance, Hantz Financial Services Inc. established a new stake valued at about $33,000 during the second quarter. Similarly, Fifth Third Bancorp boosted its investment by 120.9%, now owning 952 shares worth $34,000 after adding 521 shares in the last quarter.
Additionally, Atlantic Union Bankshares Corp and Princeton Global Asset Management LLC also entered new positions in the ETF, each valued at approximately $34,000 and $36,000, respectively. Winnow Wealth LLC also made a notable acquisition during the second quarter, purchasing shares valued at around $42,000.
Market Performance and Fund Overview
As of the latest trading updates, shares of the First Trust SMID Cap Rising Dividend Achievers ETF opened at $38.32. The fund has experienced a 1.1% decline recently, with a twelve-month low of $28.84 and a high of $39.60. The ETF currently 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 tracks an equal-weighted index, focusing on firms that meet specific fundamental criteria.
Investors interested in the latest movements and changes in holdings for the ETF can find additional insights through platforms like HoldingsChannel.com, which provides updated information on institutional investments and insider trades related to the ETF.
Overall, the strategic increases in stakes among several investors highlight a growing confidence in the performance potential of the First Trust SMID Cap Rising Dividend Achievers ETF.
