First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Strong Trading Volume – Here’s Why

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) shares saw unusually-strong trading volume on Wednesday. Approximately 781,231 shares changed hands during mid-day trading, an increase of 144% from the previous session’s volume of 320,148 shares. The stock last traded at $22.27 and had previously closed at $22.35.

First Trust NASDAQ BuyWrite Income ETF Stock Down 0.2%

The firm’s 50 day simple moving average is $22.10 and its two-hundred day simple moving average is $21.66. The stock has a market capitalization of $1.01 billion, a P/E ratio of 32.31 and a beta of 0.65.

First Trust NASDAQ BuyWrite Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.2220 dividend. The ex-dividend date was Thursday, September 24th. This represents a $2.66 annualized dividend and a dividend yield of 11.9%.

Institutional Trading of First Trust NASDAQ BuyWrite Income ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spartan Wealth Advisory Services LLC bought a new stake in First Trust NASDAQ BuyWrite Income ETF during the 1st quarter worth approximately $10,234,000. Ameritas Advisory Services LLC lifted its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 784.5% in the second quarter. Ameritas Advisory Services LLC now owns 221,703 shares of the company’s stock valued at $4,897,000 after purchasing an additional 196,637 shares in the last quarter. Arax Advisory Partners bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at approximately $1,357,000. Envestnet Asset Management Inc. boosted its position in shares of First Trust NASDAQ BuyWrite Income ETF by 37.6% during the second quarter. Envestnet Asset Management Inc. now owns 234,852 shares of the company’s stock valued at $5,188,000 after buying an additional 64,213 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of First Trust NASDAQ BuyWrite Income ETF by 38.9% during the first quarter. Janney Montgomery Scott LLC now owns 199,613 shares of the company’s stock valued at $3,976,000 after buying an additional 55,891 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.