First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sets New 1-Year High – Here’s Why

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH)’s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $43.52 and last traded at $41.4350, with a volume of 18403 shares traded. The stock had previously closed at $41.77.

First Trust Nasdaq Pharmaceuticals ETF Price Performance

The company has a fifty day simple moving average of $40.71 and a two-hundred day simple moving average of $37.18. The company has a market capitalization of $1.08 billion, a P/E ratio of 14.51 and a beta of 0.46.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.0113 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.1%. This is a negative change from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920.

Institutional Investors Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Large investors have recently added to or reduced their stakes in the stock. Compass Financial Management LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the second quarter worth about $29,000. Nilsine Partners LLC grew its position in First Trust Nasdaq Pharmaceuticals ETF by 3.5% during the second quarter. Nilsine Partners LLC now owns 28,057 shares of the company’s stock worth $1,071,000 after buying an additional 937 shares in the last quarter. Finally, Vivaldi Capital Management LP increased its stake in First Trust Nasdaq Pharmaceuticals ETF by 16.0% during the first quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock valued at $433,000 after acquiring an additional 1,741 shares during the period.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.