First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Stock Price Up 0.5% – Still a Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price was up 0.5% during trading on Wednesday . The stock traded as high as $258.30 and last traded at $256.92. Approximately 469,999 shares were traded during mid-day trading, an increase of 80% from the average daily volume of 261,000 shares. The stock had previously closed at $255.69.

First Trust Dow Jones Internet Index Fund Price Performance

The business’s 50-day moving average price is $267.95 and its two-hundred day moving average price is $273.31. The company has a market capitalization of $6.27 billion, a P/E ratio of 32.59 and a beta of 1.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Keystone Global Partners LLC acquired a new stake in First Trust Dow Jones Internet Index Fund during the 2nd quarter worth approximately $26,000. Trust Co. of Vermont bought a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. Chung Wu Investment Group LLC acquired a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. GFG Capital LLC acquired a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. Finally, First Command Advisory Services Inc. bought a new stake in First Trust Dow Jones Internet Index Fund in the 2nd quarter valued at $27,000. 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.