First Trust Growth Strength ETF (NASDAQ:FTGS) Hits New 1-Year High – Here’s Why

First Trust Growth Strength ETF (NASDAQ:FTGS) reached a new 52-week high during trading on Tuesday . The company traded as high as $38.65 and last traded at $37.82, with a volume of 8916 shares. The stock had previously closed at $37.83.

First Trust Growth Strength ETF Price Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of 23.90 and a beta of 1.02. The stock’s 50-day simple moving average is $36.92 and its two-hundred day simple moving average is $36.04.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in First Trust Growth Strength ETF during the fourth quarter valued at about $28,000. Capital Investment Advisory Services LLC grew its position in shares of First Trust Growth Strength ETF by 6,214.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock worth $31,000 after purchasing an additional 870 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of First Trust Growth Strength ETF during the third quarter worth about $32,000. Cullen Frost Bankers Inc. raised its stake in First Trust Growth Strength ETF by 58.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after purchasing an additional 385 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in First Trust Growth Strength ETF by 100.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock worth $40,000 after purchasing an additional 557 shares in the last quarter.

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.