Summit Financial LLC Buys 1,587 Shares of First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL)

Summit Financial LLC increased its stake in First Trust Morningstar Dividend Leaders Index (NYSEARCA:FDL) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,845 shares of the exchange traded fund’s stock after purchasing an additional 1,587 shares during the quarter. Summit Financial LLC’s holdings in First Trust Morningstar Dividend Leaders Index were worth $886,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Mascoma Wealth Management LLC purchased a new position in shares of First Trust Morningstar Dividend Leaders Index in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in First Trust Morningstar Dividend Leaders Index in the 4th quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new stake in First Trust Morningstar Dividend Leaders Index during the 4th quarter valued at $46,000. Blue Trust Inc. lifted its position in shares of First Trust Morningstar Dividend Leaders Index by 84.0% during the fourth quarter. Blue Trust Inc. now owns 2,000 shares of the exchange traded fund’s stock worth $81,000 after acquiring an additional 913 shares in the last quarter. Finally, Pillar Financial Advisors LLC bought a new position in shares of First Trust Morningstar Dividend Leaders Index in the fourth quarter worth $106,000.

First Trust Morningstar Dividend Leaders Index Stock Performance

Shares of NYSEARCA FDL opened at $43.19 on Thursday. The stock has a fifty day moving average of $42.76 and a 200-day moving average of $42.07. First Trust Morningstar Dividend Leaders Index has a fifty-two week low of $36.31 and a fifty-two week high of $44.35. The stock has a market cap of $5.33 billion, a PE ratio of 17.19 and a beta of 0.77.

About First Trust Morningstar Dividend Leaders Index

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index.