First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Shares Up 2.2% – Here’s Why

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) rose 2.2% on Monday . The stock traded as high as $266.17 and last traded at $264.17. Approximately 286,876 shares changed hands during trading, a decline of 49% from the average daily volume of 557,449 shares. The stock had previously closed at $258.43.

First Trust Dow Jones Internet Index Fund Stock Performance

The stock has a market cap of $5.27 billion, a P/E ratio of 32.59 and a beta of 1.22. The firm has a 50 day moving average of $267.88 and a two-hundred day moving average of $258.07.

Institutional Investors Weigh In On First Trust Dow Jones Internet Index Fund

Hedge funds have recently modified their holdings of the business. SHP Wealth Management acquired a new stake in First Trust Dow Jones Internet Index Fund in the 4th quarter worth $27,000. Curio Wealth LLC bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the fourth quarter valued at about $28,000. Park National Corp OH bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the first quarter valued at about $28,000. Hyposwiss Advisors SA acquired a new stake in First Trust Dow Jones Internet Index Fund during the fourth quarter worth about $32,000. Finally, Providence Capital Advisors LLC acquired a new stake in First Trust Dow Jones Internet Index Fund during the fourth quarter worth about $32,000. 70.10% of the stock is owned by institutional investors.

About First Trust Dow Jones Internet Index Fund

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.