First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Trading Up 0.6% – Here’s Why

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG)’s stock price was up 0.6% during trading on Monday . The company traded as high as $23.75 and last traded at $23.62. 4,955 shares changed hands during trading, a decline of 72% from the average session volume of 17,793 shares. The stock had previously closed at $23.49.

First Trust Nasdaq Food & Beverage ETF Price Performance

The firm has a 50-day simple moving average of $22.82 and a two-hundred day simple moving average of $22.62. The company has a market cap of $24.56 million, a PE ratio of 15.14 and a beta of 0.39.

First Trust Nasdaq Food & Beverage ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a dividend of $0.1294 per share. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from First Trust Nasdaq Food & Beverage ETF’s previous quarterly dividend of $0.09. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.2%.

Institutional Trading of First Trust Nasdaq Food & Beverage ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC purchased a new position in shares of First Trust Nasdaq Food & Beverage ETF in the first quarter valued at $25,000. Royal Bank of Canada raised its position in shares of First Trust Nasdaq Food & Beverage ETF by 348.0% in the 4th quarter. Royal Bank of Canada now owns 5,430 shares of the company’s stock valued at $114,000 after purchasing an additional 4,218 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of First Trust Nasdaq Food & Beverage ETF by 31.2% during the 4th quarter. Osaic Holdings Inc. now owns 6,344 shares of the company’s stock valued at $133,000 after buying an additional 1,508 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of First Trust Nasdaq Food & Beverage ETF during the 2nd quarter valued at approximately $147,000. Finally, LPL Financial LLC grew its position in shares of First Trust Nasdaq Food & Beverage ETF by 37.0% during the fourth quarter. LPL Financial LLC now owns 13,432 shares of the company’s stock worth $281,000 after buying an additional 3,631 shares in the last quarter.

About First Trust Nasdaq Food & Beverage ETF

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.