First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Large Volume Increase – Time to Buy?

Shares of First Trust Growth Strength ETF (NASDAQ:FTGS) saw unusually-high trading volume on Wednesday . Approximately 848,109 shares were traded during mid-day trading, an increase of 231% from the previous session’s volume of 256,327 shares.The stock last traded at $36.27 and had previously closed at $35.76.

First Trust Growth Strength ETF Stock Performance

The company has a 50-day moving average of $35.52 and a 200 day moving average of $35.44. The firm has a market cap of $1.28 billion, a P/E ratio of 23.90 and a beta of 1.12.

First Trust Growth Strength ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $0.0055 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%.

Institutional Investors Weigh In On First Trust Growth Strength ETF

A number of hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in First Trust Growth Strength ETF in the third quarter valued at about $28,000. Capital Investment Advisory Services LLC raised its stake in shares of First Trust Growth Strength ETF by 6,214.3% in the fourth quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock valued at $31,000 after acquiring an additional 870 shares during the last quarter. Allworth Financial LP acquired a new position in shares of First Trust Growth Strength ETF in the 3rd quarter worth approximately $32,000. Private Trust Co. NA boosted its holdings in shares of First Trust Growth Strength ETF by 49.6% in the 3rd quarter. Private Trust Co. NA now owns 1,183 shares of the company’s stock worth $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in First Trust Growth Strength ETF during the 3rd quarter worth approximately $44,000.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.