First Trust BuyWrite Income ETF (NASDAQ:FTHI) Sees Large Volume Increase – Here’s Why

First Trust BuyWrite Income ETF (NASDAQ:FTHI) shares saw unusually-strong trading volume on Friday . Approximately 1,498,064 shares traded hands during mid-day trading, an increase of 107% from the previous session’s volume of 723,248 shares.The stock last traded at $23.7650 and had previously closed at $23.73.

First Trust BuyWrite Income ETF Trading Up 0.1%

The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 25.34 and a beta of 0.64. The company’s 50 day moving average is $23.67 and its 200 day moving average is $23.51.

First Trust BuyWrite Income ETF Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 21st will be given a $0.177 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FTHI. Ergawealth Advisors Inc. grew its holdings in shares of First Trust BuyWrite Income ETF by 87.2% during the fourth quarter. Ergawealth Advisors Inc. now owns 2,097,358 shares of the company’s stock worth $49,540,000 after buying an additional 976,948 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in First Trust BuyWrite Income ETF by 140.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,545,547 shares of the company’s stock valued at $36,645,000 after acquiring an additional 903,553 shares during the last quarter. Ameriprise Financial Inc. lifted its position in First Trust BuyWrite Income ETF by 4,757.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 528,415 shares of the company’s stock worth $12,530,000 after acquiring an additional 517,536 shares during the period. HUB Investment Partners LLC purchased a new position in shares of First Trust BuyWrite Income ETF in the 3rd quarter valued at approximately $8,613,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of First Trust BuyWrite Income ETF by 9.1% in the third quarter. Envestnet Asset Management Inc. now owns 3,248,815 shares of the company’s stock valued at $77,029,000 after purchasing an additional 270,466 shares during the period.

First Trust BuyWrite Income ETF Company Profile

The First Trust BuyWrite Income ETF (FTHI) is an exchange-traded fund that is based on the S&P 500 index. The fund is an actively managed portfolio of US-listed stocks, with an overlay of short calls on the S&P 500. FTHI was launched on Jan 6, 2014 and is managed by First Trust.