First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sets New 1-Year High – Here’s Why

Shares of First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) hit a new 52-week high during trading on Wednesday. The stock traded as high as $43.52 and last traded at $41.4350, with a volume of 18403 shares. The stock had previously closed at $41.77.

First Trust Nasdaq Pharmaceuticals ETF Price Performance

The stock’s 50 day simple moving average is $40.71 and its two-hundred day simple moving average is $37.18. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 14.51 and a beta of 0.46.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.0113 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, September 24th. This is a negative change from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920.

Institutional Trading of First Trust Nasdaq Pharmaceuticals ETF

Several institutional investors have recently made changes to their positions in FTXH. Compass Financial Management LLC bought a new stake in First Trust Nasdaq Pharmaceuticals ETF in the second quarter valued at about $29,000. Vivaldi Capital Management LP lifted its stake in First Trust Nasdaq Pharmaceuticals ETF by 16.0% during the first quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock worth $433,000 after purchasing an additional 1,741 shares during the period. Finally, Nilsine Partners LLC lifted its stake in First Trust Nasdaq Pharmaceuticals ETF by 3.5% during the second quarter. Nilsine Partners LLC now owns 28,057 shares of the company’s stock worth $1,071,000 after purchasing an additional 937 shares during the period.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.