First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Large Volume Increase – Here’s Why

Shares of First Trust Growth Strength ETF (NASDAQ:FTGS) saw strong trading volume on Wednesday . Approximately 403,044 shares traded hands during mid-day trading, an increase of 209% from the previous session’s volume of 130,264 shares.The stock last traded at $38.2850 and had previously closed at $38.50.

First Trust Growth Strength ETF Price Performance

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 23.90 and a beta of 1.01. The stock has a 50-day moving average of $38.66 and a 200 day moving average of $37.04.

Institutional Trading of First Trust Growth Strength ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC increased its holdings in First Trust Growth Strength ETF by 2.7% in the 4th quarter. LPL Financial LLC now owns 5,380,375 shares of the company’s stock valued at $190,200,000 after buying an additional 141,697 shares during the period. Centennial Wealth Advisory LLC boosted its position in shares of First Trust Growth Strength ETF by 73.6% during the 1st quarter. Centennial Wealth Advisory LLC now owns 216,767 shares of the company’s stock worth $7,380,000 after acquiring an additional 91,927 shares in the last quarter. Gateway Wealth Partners LLC increased its stake in First Trust Growth Strength ETF by 118.2% in the first quarter. Gateway Wealth Partners LLC now owns 168,521 shares of the company’s stock valued at $5,737,000 after acquiring an additional 91,304 shares during the last quarter. Royal Bank of Canada raised its position in First Trust Growth Strength ETF by 16.6% during the first quarter. Royal Bank of Canada now owns 514,094 shares of the company’s stock valued at $17,503,000 after purchasing an additional 73,363 shares in the last quarter. Finally, Independent Financial Group LLC acquired a new position in First Trust Growth Strength ETF during the first quarter valued at approximately $2,497,000.

First Trust Growth Strength ETF Company Profile

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.