First Trust Water ETF (NYSEARCA:FIW) Hits New 12-Month Low – Time to Sell?

First Trust Water ETF (NYSEARCA:FIW) hit a new 52-week low on Friday . The company traded as low as $100.74 and last traded at $101.08, with a volume of 12081 shares. The stock had previously closed at $101.76.

First Trust Water ETF Trading Down 1.0%

The company has a 50 day moving average of $105.69 and a 200-day moving average of $109.80. The firm has a market capitalization of $1.72 billion, a P/E ratio of 24.17 and a beta of 1.03.

Hedge Funds Weigh In On First Trust Water ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Van Diest Capital LLC acquired a new position in shares of First Trust Water ETF during the 1st quarter worth approximately $311,000. Modern Wealth Management LLC raised its position in shares of First Trust Water ETF by 15.9% in the first quarter. Modern Wealth Management LLC now owns 52,435 shares of the company’s stock valued at $5,460,000 after buying an additional 7,205 shares in the last quarter. Clearwater Capital Advisors LLC boosted its stake in shares of First Trust Water ETF by 3.2% in the first quarter. Clearwater Capital Advisors LLC now owns 112,957 shares of the company’s stock valued at $11,649,000 after buying an additional 3,511 shares during the period. PNC Financial Services Group Inc. grew its position in First Trust Water ETF by 125.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,841 shares of the company’s stock worth $706,000 after buying an additional 3,800 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. increased its stake in First Trust Water ETF by 4.2% during the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 2,646 shares of the company’s stock worth $273,000 after acquiring an additional 106 shares during the period.

First Trust Water ETF Company Profile

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.