First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Shares Up 1.2% – Still a Buy?

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) shares shot up 1.2% during mid-day trading on Tuesday . The stock traded as high as $41.48 and last traded at $41.45. 37,715 shares were traded during trading, a decline of 95% from the average session volume of 696,987 shares. The stock had previously closed at $40.96.

First Trust Nasdaq Bank ETF Price Performance

The stock’s fifty day moving average price is $38.88 and its 200-day moving average price is $38.20. The firm has a market cap of $350.25 million, a PE ratio of 11.56 and a beta of 0.90.

First Trust Nasdaq Bank ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a dividend of $0.0735 per share. This represents a $0.29 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Trading of First Trust Nasdaq Bank ETF

A number of hedge funds have recently bought and sold shares of FTXO. Parallel Advisors LLC lifted its stake in First Trust Nasdaq Bank ETF by 498.1% in the 1st quarter. Parallel Advisors LLC now owns 2,500 shares of the company’s stock worth $90,000 after purchasing an additional 2,082 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of First Trust Nasdaq Bank ETF by 84.3% in the first quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock valued at $5,425,000 after purchasing an additional 68,593 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of First Trust Nasdaq Bank ETF by 10.5% in the first quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock valued at $10,423,000 after purchasing an additional 27,273 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of First Trust Nasdaq Bank ETF in the first quarter valued at approximately $5,704,000. Finally, Royal Bank of Canada lifted its position in First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after buying an additional 203,378 shares in the last quarter.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.