First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $21.48 and traded as low as $20.37. First Trust NASDAQ BuyWrite Income ETF shares last traded at $20.38, with a volume of 1,042,495 shares.

First Trust NASDAQ BuyWrite Income ETF Stock Performance

The business’s 50 day simple moving average is $22.06 and its 200-day simple moving average is $21.48. The company has a market cap of $948.69 million, a price-to-earnings ratio of 32.31 and a beta of 0.67.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, October 21st were given a dividend of $0.2210 per share. The ex-dividend date of this dividend was Wednesday, October 21st. This is a negative change from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.2220. This represents a $2.65 dividend on an annualized basis and a yield of 13.0%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in First Trust NASDAQ BuyWrite Income ETF by 5.2% in the second quarter. Integrated Wealth Concepts LLC now owns 683,933 shares of the company’s stock worth $15,108,000 after purchasing an additional 33,575 shares in the last quarter. Fifth Third Securities Inc. increased its position in First Trust NASDAQ BuyWrite Income ETF by 13.1% during the third quarter. Fifth Third Securities Inc. now owns 633,197 shares of the company’s stock worth $14,032,000 after buying an additional 73,297 shares during the last quarter. International Assets Investment Management LLC raised its holdings in First Trust NASDAQ BuyWrite Income ETF by 299.0% during the third quarter. International Assets Investment Management LLC now owns 600,000 shares of the company’s stock valued at $13,296,000 after buying an additional 449,609 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new position in First Trust NASDAQ BuyWrite Income ETF during the first quarter valued at about $10,234,000. Finally, Cetera Investment Advisers raised its holdings in First Trust NASDAQ BuyWrite Income ETF by 16.7% during the first quarter. Cetera Investment Advisers now owns 364,351 shares of the company’s stock valued at $7,258,000 after buying an additional 52,045 shares in the last quarter.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.