First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Reaches New 1-Year High – Still a Buy?

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.24 and last traded at $31.23, with a volume of 537187 shares trading hands. The stock had previously closed at $30.97.

First Trust Global Tactical Commodity Strategy Fund Price Performance

The business has a 50 day simple moving average of $29.10 and a 200 day simple moving average of $28.52.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a $0.1691 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. increased its position in First Trust Global Tactical Commodity Strategy Fund by 3.1% in the 4th quarter. Kovack Advisors Inc. now owns 20,043 shares of the company’s stock valued at $466,000 after acquiring an additional 612 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of First Trust Global Tactical Commodity Strategy Fund by 0.8% during the fourth quarter. Orion Porfolio Solutions LLC now owns 80,163 shares of the company’s stock worth $1,862,000 after purchasing an additional 645 shares in the last quarter. Barnes Wealth Management Group Inc lifted its position in shares of First Trust Global Tactical Commodity Strategy Fund by 8.8% during the third quarter. Barnes Wealth Management Group Inc now owns 9,348 shares of the company’s stock worth $242,000 after purchasing an additional 755 shares in the last quarter. Visionary Wealth Advisors grew its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 9.3% during the fourth quarter. Visionary Wealth Advisors now owns 8,879 shares of the company’s stock valued at $206,000 after purchasing an additional 756 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 8.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,471 shares of the company’s stock valued at $220,000 after purchasing an additional 759 shares during the last quarter.

First Trust Global Tactical Commodity Strategy Fund Company Profile

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.