First Trust Growth Strength ETF (NASDAQ:FTGS) Reaches New 1-Year High – Should You Buy?

First Trust Growth Strength ETF (NASDAQ:FTGS)’s stock price hit a new 52-week high on Friday . The company traded as high as $36.65 and last traded at $36.57, with a volume of 42431 shares traded. The stock had previously closed at $36.46.

First Trust Growth Strength ETF Stock Up 0.1%

The company has a market cap of $1.29 billion, a P/E ratio of 23.90 and a beta of 1.12. The firm’s 50-day moving average price is $35.49 and its 200-day moving average price is $35.43.

First Trust Growth Strength ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a $0.0055 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FTGS. Root Financial Partners LLC bought a new stake in First Trust Growth Strength ETF in the 3rd quarter worth approximately $28,000. Capital Investment Advisory Services LLC raised its stake in shares of First Trust Growth Strength ETF by 6,214.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock worth $31,000 after acquiring an additional 870 shares in the last quarter. Allworth Financial LP bought a new stake in shares of First Trust Growth Strength ETF in the 3rd quarter worth approximately $32,000. Private Trust Co. NA boosted its stake in shares of First Trust Growth Strength ETF by 49.6% in the 3rd quarter. Private Trust Co. NA now owns 1,183 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of First Trust Growth Strength ETF in the 3rd quarter valued at $44,000.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.