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 2023. This decision resulted in the firm owning 20,509 shares after selling 4,456 shares, with a total valuation of approximately $690,000 at the end of the reporting period, according to data from Holdings Channel.
This decision by Legacy Capital is part of a larger trend among institutional investors who are modifying their stakes in the ETF. Notably, Atria Wealth Solutions Inc. entered the market with a new investment valued at around $1.5 million. Similarly, Envestnet Portfolio Solutions Inc. acquired a position worth approximately $1.23 million during the same quarter. Additionally, Signal Advisors Wealth LLC increased its holdings by 32.9%, now owning 38,739 shares valued at $1.3 million after purchasing an additional 9,590 shares.
Other significant transactions include Goldman Sachs Group Inc., which expanded its position by 31.6% during the first quarter, now holding 12,336 shares valued at $397,000. Farther Finance Advisors LLC also established a new stake in the ETF valued at around $95,000.
Current Performance of First Trust S&P 500 ETF
As of the latest trading session, shares of the First Trust S&P 500 Diversified Dividend Aristocrats ETF opened at $35.43. The fund’s fifty-day moving average stands at $35.30, with a two-hundred-day moving average at $34.43. The ETF has a market capitalization of $53.15 million, a price-to-earnings ratio of 16.58, and a beta of 0.92. Over the past year, its stock has experienced a fifty-two week low of $27.61 and a high of $36.21.
The First Trust S&P 500 Diversified Dividend Aristocrats ETF primarily invests in large-cap equities and tracks a sector-neutral U.S. large-cap index, selected and weighted based on dividend history and yield. The ETF was launched on June 20, 2017, by First Trust.
For those interested in the latest activity regarding this ETF, Holdings Channel provides up-to-date information on hedge fund holdings and insider trades. This can offer valuable insights into market movements and investor sentiment surrounding the First Trust S&P 500 Diversified Dividend Aristocrats ETF.
