First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sees Unusually-High Trading Volume – Still a Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) saw unusually-strong trading volume on Thursday . Approximately 49,588 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 29,518 shares.The stock last traded at $161.02 and had previously closed at $164.93.

First Trust US Equity Opportunities ETF Stock Down 1.7%

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 32.81 and a beta of 1.26. The stock’s 50-day simple moving average is $164.09 and its two-hundred day simple moving average is $164.18.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FPX. Reyes Financial Architecture Inc. purchased a new position in First Trust US Equity Opportunities ETF in the 3rd quarter valued at about $28,000. Manning & Napier Advisors LLC purchased a new stake in First Trust US Equity Opportunities ETF during the 3rd quarter worth approximately $29,000. Comerica Bank raised its holdings in shares of First Trust US Equity Opportunities ETF by 457.6% during the third quarter. Comerica Bank now owns 184 shares of the company’s stock valued at $31,000 after acquiring an additional 151 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of First Trust US Equity Opportunities ETF during the third quarter valued at approximately $38,000. Finally, Mather Group LLC. acquired a new position in shares of First Trust US Equity Opportunities ETF during the third quarter valued at approximately $40,000.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.