First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Reaches New 52-Week High – Should You Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $149.26 and last traded at $148.47, with a volume of 14480 shares. The stock had previously closed at $147.74.

First Trust US Equity Opportunities ETF Stock Performance

The stock has a market capitalization of $993.07 million, a price-to-earnings ratio of 32.81 and a beta of 1.09. The business has a 50-day moving average of $139.63 and a 200-day moving average of $127.41.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

A number of hedge funds have recently made changes to their positions in the stock. LPL Financial LLC boosted its position in shares of First Trust US Equity Opportunities ETF by 40.6% during the 1st quarter. LPL Financial LLC now owns 390,106 shares of the company’s stock worth $43,590,000 after purchasing an additional 112,627 shares during the period. Bank of America Corp DE lifted its holdings in First Trust US Equity Opportunities ETF by 10.2% during the 4th quarter. Bank of America Corp DE now owns 142,375 shares of the company’s stock worth $17,015,000 after buying an additional 13,197 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in First Trust US Equity Opportunities ETF by 2.5% during the 1st quarter. Raymond James Financial Inc. now owns 121,719 shares of the company’s stock worth $13,601,000 after buying an additional 2,931 shares in the last quarter. CW Advisors LLC lifted its holdings in First Trust US Equity Opportunities ETF by 24.6% during the 1st quarter. CW Advisors LLC now owns 98,642 shares of the company’s stock worth $11,024,000 after buying an additional 19,502 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in First Trust US Equity Opportunities ETF by 0.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 79,140 shares of the company’s stock worth $9,458,000 after buying an additional 350 shares in the last quarter.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index.