First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Trading Up 1.2% – Still a Buy?

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) shares rose 1.2% during mid-day trading on Tuesday . The company traded as high as $41.48 and last traded at $41.45. Approximately 37,715 shares were traded during mid-day trading, a decline of 95% from the average session volume of 696,987 shares. The stock had previously closed at $40.96.

First Trust Nasdaq Bank ETF Stock Up 1.2%

The firm’s 50 day simple moving average is $38.88 and its 200 day simple moving average is $38.20. The company has a market capitalization of $350.25 million, a PE ratio of 11.56 and a beta of 0.90.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a $0.0735 dividend. This represents a $0.29 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

A number of large investors have recently made changes to their positions in the company. Comerica Bank purchased a new stake in First Trust Nasdaq Bank ETF in the 1st quarter worth about $28,000. Rossby Financial LCC grew its stake in shares of First Trust Nasdaq Bank ETF by 148.6% during the third quarter. Rossby Financial LCC now owns 865 shares of the company’s stock valued at $30,000 after buying an additional 517 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of First Trust Nasdaq Bank ETF during the first quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the fourth quarter valued at approximately $37,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of First Trust Nasdaq Bank ETF in the third quarter worth approximately $37,000.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.