First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Large Volume Increase – Should You Buy?

First Trust Growth Strength ETF (NASDAQ:FTGS) saw unusually-strong trading volume on Tuesday . Approximately 449,814 shares changed hands during mid-day trading, an increase of 138% from the previous session’s volume of 189,288 shares.The stock last traded at $35.23 and had previously closed at $34.96.

First Trust Growth Strength ETF Stock Up 0.5%

The company has a 50 day simple moving average of $35.79 and a 200 day simple moving average of $35.66. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 23.90 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. WPG Advisers LLC lifted its position in First Trust Growth Strength ETF by 2.6% during the third quarter. WPG Advisers LLC now owns 13,998 shares of the company’s stock valued at $503,000 after buying an additional 356 shares in the last quarter. Petix & Botte Co increased its position in shares of First Trust Growth Strength ETF by 4.6% in the third quarter. Petix & Botte Co now owns 8,626 shares of the company’s stock worth $310,000 after acquiring an additional 376 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of First Trust Growth Strength ETF by 58.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after acquiring an additional 385 shares during the period. Private Trust Co. NA lifted its holdings in shares of First Trust Growth Strength ETF by 49.6% during the 3rd quarter. Private Trust Co. NA now owns 1,183 shares of the company’s stock valued at $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Lake Street Private Wealth LLC lifted its holdings in shares of First Trust Growth Strength ETF by 7.2% during the 4th quarter. Lake Street Private Wealth LLC now owns 6,271 shares of the company’s stock valued at $222,000 after acquiring an additional 420 shares in the last quarter.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.