First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 1-Year High – Should You Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $294.35 and last traded at $293.6910, with a volume of 771 shares. The stock had previously closed at $288.08.

First Trust Dow Jones Internet Index Fund Price Performance

The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22. The stock has a fifty day moving average of $270.13 and a two-hundred day moving average of $258.26.

Institutional Trading of First Trust Dow Jones Internet Index Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Berkshire Money Management Inc. bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the 4th quarter valued at $589,000. PFG Investments LLC increased its position in shares of First Trust Dow Jones Internet Index Fund by 51.2% during the fourth quarter. PFG Investments LLC now owns 1,571 shares of the company’s stock worth $423,000 after buying an additional 532 shares during the period. Emissary Wealth LLC bought a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter worth $335,000. Whittier Trust Co. of Nevada Inc. raised its stake in First Trust Dow Jones Internet Index Fund by 157.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 913 shares of the company’s stock worth $248,000 after buying an additional 559 shares during the last quarter. Finally, Choreo LLC lifted its holdings in First Trust Dow Jones Internet Index Fund by 13.1% in the fourth quarter. Choreo LLC now owns 1,905 shares of the company’s stock valued at $517,000 after buying an additional 220 shares during the period. 70.10% of the stock is currently 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.