First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD) Hits New 52-Week High – Should You Buy?

First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.80 and last traded at $30.7350, with a volume of 89202 shares trading hands. The stock had previously closed at $30.71.

First Trust Dow Jones Global Select Dividend Index Fund Stock Up 0.2%

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.79 and a beta of 0.76. The stock’s 50-day simple moving average is $29.94 and its two-hundred day simple moving average is $29.07.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its stake in shares of First Trust Dow Jones Global Select Dividend Index Fund by 428.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,163,034 shares of the company’s stock valued at $32,030,000 after purchasing an additional 942,903 shares in the last quarter. Ameriprise Financial Inc. raised its stake in First Trust Dow Jones Global Select Dividend Index Fund by 48.9% during the second quarter. Ameriprise Financial Inc. now owns 1,807,702 shares of the company’s stock valued at $49,794,000 after buying an additional 593,342 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in First Trust Dow Jones Global Select Dividend Index Fund by 68.2% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,063,000 shares of the company’s stock worth $29,275,000 after buying an additional 431,000 shares during the last quarter. Jane Street Group LLC grew its position in shares of First Trust Dow Jones Global Select Dividend Index Fund by 3,856.3% in the 2nd quarter. Jane Street Group LLC now owns 351,755 shares of the company’s stock worth $9,687,000 after acquiring an additional 342,864 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of First Trust Dow Jones Global Select Dividend Index Fund by 133.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 447,827 shares of the company’s stock worth $12,333,000 after acquiring an additional 256,297 shares in the last quarter.

First Trust Dow Jones Global Select Dividend Index Fund Company Profile

First Trust Dow Jones Global Select Dividend Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Global Select Dividend Index (the Index). The Index is an indicated annual dividend yield weighted index of 100 stocks selected from the developed market portion of the Dow Jones World Index, subject to certain buffers designed to limit turnover. The Index universe is defined as all component companies of the 24 developed-market country indexes in the Dow Jones Global Indexes family.