Prospera Financial Services Inc has increased its investment in the First Trust RiverFront Dynamic Developed International ETF (NASDAQ: RFDI) by 5.6% during the third quarter of 2023. According to the company’s latest 13F filing with the Securities and Exchange Commission, Prospera now holds 137,127 shares of the ETF after acquiring an additional 7,247 shares over the past three months. At the conclusion of this reporting period, Prospera’s stake in the ETF is valued at approximately $10.52 million, representing about 7.97% of the total shares.
Several other institutional investors have also adjusted their positions in RFDI recently. Notably, Janney Montgomery Scott LLC raised its stake by 7.6% in the second quarter, bringing its total to 4,100 shares worth $299,000 after acquiring 288 additional shares. Similarly, Envestnet Asset Management Inc. increased its holdings by 11.3%, now owning 147,934 shares valued at $10.79 million following the purchase of 15,063 shares.
Per Stirling Capital Management LLC has also enhanced its investment, growing its stake by 3.9% to a total of 205,166 shares, valued at $14.96 million after acquiring an additional 7,633 shares. Additionally, Cetera Investment Advisers raised its holdings by 18.5%, now owning 93,760 shares worth $6.84 million after purchasing 14,622 shares. Ameritas Advisory Services LLC entered the market as well, acquiring a new stake in the ETF valued at $29,000.
Current Market Performance
Shares of the First Trust RiverFront Dynamic Developed International ETF opened at $87.67 on Wednesday. Over the past year, the stock has experienced a low of $58.54 and a high of $87.76. The ETF has a market capitalization of $150.79 million, a price-to-earnings ratio of 12.09, and a beta of 0.88. The fifty-day moving average stands at $82.21, while the 200-day moving average is $78.55.
Recently, the First Trust RiverFront Dynamic Developed International ETF announced an increase in its dividend, further enticing investors. Launched on April 13, 2016, this actively-managed ETF seeks capital appreciation through investments in developed-country stocks, excluding the United States, using a factor-based approach. The fund manager retains the discretion to hedge up to 100% of the portfolio against currency fluctuations.
As interest in the First Trust RiverFront Dynamic Developed International ETF continues to grow, investors are keenly watching how these recent adjustments may impact the fund’s performance moving forward.
