First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Reaches New 1-Year High – Time to Buy?

Shares of First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) hit a new 52-week high during trading on Thursday . The company traded as high as $44.89 and last traded at $44.89, with a volume of 5100 shares. The stock had previously closed at $44.76.

First Trust Nasdaq Transportation ETF Stock Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 11.80 and a beta of 1.27. The business’s fifty day simple moving average is $40.21 and its 200 day simple moving average is $39.70.

First Trust Nasdaq Transportation ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a $0.0342 dividend. The ex-dividend date was Thursday, March 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.3%.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

A number of institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of First Trust Nasdaq Transportation ETF during the first quarter worth about $669,272,000. Royal Bank of Canada grew its stake in First Trust Nasdaq Transportation ETF by 5,525.7% in the first quarter. Royal Bank of Canada now owns 148,125 shares of the company’s stock worth $5,645,000 after purchasing an additional 145,492 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in First Trust Nasdaq Transportation ETF by 16.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 132,402 shares of the company’s stock valued at $5,131,000 after buying an additional 18,497 shares in the last quarter. NewEdge Advisors LLC raised its stake in First Trust Nasdaq Transportation ETF by 10,230.4% during the first quarter. NewEdge Advisors LLC now owns 124,894 shares of the company’s stock valued at $4,760,000 after buying an additional 123,685 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in First Trust Nasdaq Transportation ETF during the fourth quarter valued at approximately $1,639,000.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.