First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Hits New 12-Month High – Still a Buy?

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) shares reached a new 52-week high on Monday . The company traded as high as $29.98 and last traded at $29.9550, with a volume of 36674 shares changing hands. The stock had previously closed at $29.48.

First Trust Global Tactical Commodity Strategy Fund Price Performance

The business’s fifty day simple moving average is $28.30 and its two-hundred day simple moving average is $26.39.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a dividend of $0.4093 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.4%.

Institutional Trading of First Trust Global Tactical Commodity Strategy Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the third quarter worth about $26,000. Versant Capital Management Inc purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the third quarter worth about $35,000. Elevated Capital Advisors LLC purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the fourth quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 1,207.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,817 shares of the company’s stock worth $42,000 after purchasing an additional 1,678 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the third quarter worth about $48,000.

About First Trust Global Tactical Commodity Strategy Fund

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.