First Trust Global Wind Energy ETF (NYSEARCA:FAN) Trading 2% Higher – Time to Buy?

First Trust Global Wind Energy ETF (NYSEARCA:FAN)’s stock price traded up 2% during mid-day trading on Monday . The company traded as high as $23.93 and last traded at $23.91. 27,555 shares changed hands during trading, a decline of 51% from the average session volume of 56,055 shares. The stock had previously closed at $23.45.

First Trust Global Wind Energy ETF Trading Up 2.0%

The firm has a market capitalization of $233.12 million, a PE ratio of 19.71 and a beta of 0.90. The firm’s fifty day moving average price is $22.90 and its 200 day moving average price is $20.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG raised its stake in shares of First Trust Global Wind Energy ETF by 222.3% during the 4th quarter. UBS Group AG now owns 412,320 shares of the company’s stock worth $8,440,000 after purchasing an additional 284,371 shares in the last quarter. Truist Financial Corp bought a new stake in shares of First Trust Global Wind Energy ETF in the 3rd quarter valued at approximately $2,152,000. Wells Fargo & Company MN grew its stake in shares of First Trust Global Wind Energy ETF by 31.7% in the 4th quarter. Wells Fargo & Company MN now owns 442,991 shares of the company’s stock valued at $9,068,000 after buying an additional 106,705 shares in the last quarter. Concorde Asset Management LLC acquired a new position in First Trust Global Wind Energy ETF in the fourth quarter worth approximately $1,750,000. Finally, Benjamin Edwards Inc. acquired a new position in First Trust Global Wind Energy ETF in the third quarter worth approximately $1,572,000.

First Trust Global Wind Energy ETF Company Profile

First Trust ISE Global Wind Energy Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, of an equity index called the ISE Global Wind Energy Index. The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks that comprise the Index or in depositary receipts that may include American depositary receipts (ADRs), global depositary receipts (GDRs), European depositary receipts (EDRs) or other depositary receipts (collectively, Depositary Receipts) representing securities in the Index.