First Trust BuyWrite Income ETF (NASDAQ:FTHI) Sees Large Volume Increase – Should You Buy?

Shares of First Trust BuyWrite Income ETF (NASDAQ:FTHI) saw an uptick in trading volume on Thursday . 1,815,233 shares were traded during trading, an increase of 152% from the previous session’s volume of 720,501 shares.The stock last traded at $23.65 and had previously closed at $23.84.

First Trust BuyWrite Income ETF Trading Down 0.8%

The company has a 50 day moving average of $23.81 and a 200-day moving average of $23.66. The firm has a market capitalization of $2.39 billion, a P/E ratio of 25.34 and a beta of 0.62.

First Trust BuyWrite Income ETF Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st will be issued a $0.179 dividend. The ex-dividend date of this dividend is Tuesday, July 21st. This is an increase from First Trust BuyWrite Income ETF’s previous dividend of $0.17.

Institutional Investors Weigh In On First Trust BuyWrite Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC grew its position in First Trust BuyWrite Income ETF by 19.6% during the fourth quarter. LPL Financial LLC now owns 9,018,353 shares of the company’s stock worth $213,013,000 after buying an additional 1,478,322 shares in the last quarter. Wells Fargo & Company MN raised its holdings in First Trust BuyWrite Income ETF by 10.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,444,777 shares of the company’s stock valued at $152,226,000 after acquiring an additional 626,512 shares in the last quarter. D.A. Davidson & CO. raised its holdings in First Trust BuyWrite Income ETF by 7.3% in the 1st quarter. D.A. Davidson & CO. now owns 3,010,900 shares of the company’s stock valued at $69,100,000 after acquiring an additional 206,072 shares in the last quarter. Royal Bank of Canada lifted its position in shares of First Trust BuyWrite Income ETF by 22.1% during the 1st quarter. Royal Bank of Canada now owns 2,527,288 shares of the company’s stock valued at $58,001,000 after acquiring an additional 456,702 shares during the period. Finally, Ergawealth Advisors Inc. lifted its position in shares of First Trust BuyWrite Income ETF by 87.2% during the 4th quarter. Ergawealth Advisors Inc. now owns 2,097,358 shares of the company’s stock valued at $49,540,000 after acquiring an additional 976,948 shares during the period.

About First Trust BuyWrite Income ETF

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.