Essential 40 Stock ETF (NASDAQ:ESN) Shares Up 0.9% – Should You Buy?

Essential 40 Stock ETF (NASDAQ:ESN) rose 0.9% during mid-day trading on Tuesday . The stock traded as high as $19.93 and last traded at $19.92. 60,963 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 62,140 shares. The stock had previously closed at $19.75.

Essential 40 Stock ETF Stock Down 0.7%

The stock has a market capitalization of $301.25 million, a PE ratio of 19.18 and a beta of 0.71. The stock has a fifty day moving average of $19.68 and a 200-day moving average of $18.64.

Hedge Funds Weigh In On Essential 40 Stock ETF

A hedge fund recently raised its stake in Essential 40 Stock ETF stock. Legacy Financial Group LLC lifted its stake in shares of Essential 40 Stock ETF (NASDAQ:ESN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,891,621 shares of the company’s stock after buying an additional 59,758 shares during the quarter. Essential 40 Stock ETF makes up approximately 4.3% of Legacy Financial Group LLC’s portfolio, making the stock its 6th biggest position. Legacy Financial Group LLC owned 16.10% of Essential 40 Stock ETF worth $34,382,000 at the end of the most recent reporting period.

About Essential 40 Stock ETF

The Essential 40 Stock ETF (ESN) is an exchange-traded fund that is based on the Essential 40 Stock index. The fund attempts to track an index of 40 US blue-chip stocks that are deemed essential to the US economy by the index provider. Holdings are equally weighted in the index ESN was launched on Jun 11, 2014 and is issued by KKM Financial.