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 filing with the **Securities and Exchange Commission (SEC)**, the institutional investor now holds **87,799 shares** of the ETF, having acquired an additional **31,072 shares** throughout the quarter. This increase brings the total value of Silver Oak’s holdings in the ETF to approximately **$3.34 million**.
Several other prominent investors have also adjusted their positions in the First Trust ETF in recent months. **Hantz Financial Services Inc.** entered the market, purchasing a new stake valued at about **$33,000** during the second quarter. **Fifth Third Bancorp** raised its stake by an impressive **120.9%**, now owning **952 shares** worth around **$34,000** after acquiring **521 additional shares**. Similarly, **Atlantic Union Bankshares Corp** and **Princeton Global Asset Management LLC** made new investments in the ETF, each valued at approximately **$34,000** and **$36,000**, respectively. **Winnow Wealth LLC** also acquired a new stake during the second quarter, valued at **$42,000**.
Current Performance and Market Position
On **Friday**, shares of the First Trust SMID Cap Rising Dividend Achievers ETF opened at **$38.32**, reflecting a slight decrease of **1.1%**. The ETF has experienced a twelve-month price range, hitting a low of **$28.84** and a high of **$39.60**. With a market capitalization of **$9.21 billion**, the fund holds a **P/E ratio of 14.54** and a beta of **1.12**, indicating a moderate level of volatility compared to the broader market. Its moving averages stand at **$38.16** for the last **50 days** and **$37.34** for the last **200 days**.
About the First Trust SMID Cap ETF
The **First Trust SMID Cap Rising Dividend Achievers ETF** was launched on **November 1, 2017**, and is managed by First Trust. This exchange-traded fund primarily invests in small- and mid-cap U.S. companies that have a history of increasing dividends and meet various fundamental criteria. The ETF aims to provide investors with a diversified exposure to equities with a focus on companies that demonstrate strong dividend growth potential.
This recent activity among institutional investors highlights a growing interest in dividend-growth strategies within the small- and mid-cap sector. As investors seek to navigate market fluctuations, funds like the First Trust SMID Cap Rising Dividend Achievers ETF remain an appealing option for those looking for income and capital appreciation.
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