First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Large Volume Increase – Should You Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw unusually-high trading volume on Thursday . 456,012 shares changed hands during trading, an increase of 55% from the previous session’s volume of 294,430 shares.The stock last traded at $21.82 and had previously closed at $22.03.

First Trust NASDAQ BuyWrite Income ETF Trading Down 1.2%

The company has a market cap of $920.87 million, a PE ratio of 32.31 and a beta of 0.63. The company’s 50 day moving average is $21.92 and its 200 day moving average is $21.13.

First Trust NASDAQ BuyWrite Income ETF Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st will be paid a $0.222 dividend. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date is Tuesday, July 21st.

Institutional Trading of First Trust NASDAQ BuyWrite Income ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Ankerstar Wealth LLC purchased a new stake in shares of First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at approximately $33,000. Sound Income Strategies LLC grew its position in shares of First Trust NASDAQ BuyWrite Income ETF by 971.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,143 shares of the company’s stock worth $45,000 after buying an additional 1,943 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the 1st quarter worth $134,000. Advisory Services Network LLC bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the 3rd quarter worth $143,000. Finally, Sunbelt Securities Inc. increased its stake in shares of First Trust NASDAQ BuyWrite Income ETF by 275.6% during the third quarter. Sunbelt Securities Inc. now owns 7,512 shares of the company’s stock valued at $155,000 after buying an additional 5,512 shares during the period.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.