First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Sees Unusually-High Trading Volume – Time to Buy?

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) saw an uptick in trading volume on Wednesday. 573,068 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 296,057 shares. The stock last traded at $41.3040 and had previously closed at $41.85.

First Trust Nasdaq Transportation ETF Stock Performance

The business’s 50 day simple moving average is $43.46 and its 200-day simple moving average is $42.84. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 11.80 and a beta of 1.31.

First Trust Nasdaq Transportation ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a dividend of $0.1191 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a negative change from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.1268. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%.

Institutional Investors Weigh In On First Trust Nasdaq Transportation ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of First Trust Nasdaq Transportation ETF by 53.1% in the first quarter. Cetera Investment Advisers now owns 10,404 shares of the company’s stock worth $396,000 after buying an additional 3,607 shares during the last quarter. Nilsine Partners LLC boosted its position in First Trust Nasdaq Transportation ETF by 2.6% during the second quarter. Nilsine Partners LLC now owns 465,155 shares of the company’s stock worth $21,198,000 after purchasing an additional 11,794 shares during the period. Envestnet Asset Management Inc. boosted its position in First Trust Nasdaq Transportation ETF by 35.6% during the second quarter. Envestnet Asset Management Inc. now owns 53,207 shares of the company’s stock worth $2,425,000 after purchasing an additional 13,970 shares during the period. Janney Montgomery Scott LLC grew its stake in First Trust Nasdaq Transportation ETF by 220.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,519 shares of the company’s stock valued at $934,000 after buying an additional 16,879 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of First Trust Nasdaq Transportation ETF in the first quarter worth about $656,000.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.