First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Large Volume Increase – Time to Buy?

Shares of First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw unusually-strong trading volume on Tuesday . Approximately 658,128 shares were traded during mid-day trading, an increase of 135% from the previous session’s volume of 279,815 shares.The stock last traded at $20.95 and had previously closed at $20.93.

First Trust NASDAQ BuyWrite Income ETF Stock Performance

The company has a market capitalization of $769.60 million, a P/E ratio of 32.31 and a beta of 0.59. The business has a 50 day moving average of $20.81 and a 200-day moving average of $20.39.

First Trust NASDAQ BuyWrite Income ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a c) annualized dividend and a dividend yield of 11.7%.

Hedge Funds Weigh In On First Trust NASDAQ BuyWrite Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management increased its stake in First Trust NASDAQ BuyWrite Income ETF by 5.4% in the 3rd quarter. Triumph Capital Management now owns 32,074 shares of the company’s stock worth $661,000 after acquiring an additional 1,638 shares during the last quarter. PMG Family Office LLC purchased a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the third quarter worth about $551,000. IFP Advisors Inc increased its position in shares of First Trust NASDAQ BuyWrite Income ETF by 14.8% in the third quarter. IFP Advisors Inc now owns 25,671 shares of the company’s stock worth $529,000 after purchasing an additional 3,310 shares during the last quarter. Centaurus Financial Inc. raised its stake in First Trust NASDAQ BuyWrite Income ETF by 19.2% in the third quarter. Centaurus Financial Inc. now owns 18,614 shares of the company’s stock valued at $383,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in First Trust NASDAQ BuyWrite Income ETF by 275.6% during the third quarter. Sunbelt Securities Inc. now owns 7,512 shares of the company’s stock valued at $155,000 after purchasing an additional 5,512 shares during the last quarter.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.