First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Strong Trading Volume – Time to Buy?

Shares of First Trust Growth Strength ETF (NASDAQ:FTGS) saw unusually-strong trading volume on Thursday . Approximately 595,259 shares were traded during trading, an increase of 210% from the previous session’s volume of 192,321 shares.The stock last traded at $34.7850 and had previously closed at $35.23.

First Trust Growth Strength ETF Stock Performance

The company has a 50-day moving average price of $35.88 and a 200-day moving average price of $34.30. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.90 and a beta of 1.12.

First Trust Growth Strength ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were given a $0.0242 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, September 25th. This is a positive change from First Trust Growth Strength ETF’s previous quarterly dividend of $0.00.

Hedge Funds Weigh In On First Trust Growth Strength ETF

A number of hedge funds have recently modified their holdings of the company. Root Financial Partners LLC bought a new position in First Trust Growth Strength ETF in the third quarter worth about $28,000. Private Trust Co. NA lifted its position in First Trust Growth Strength ETF by 49.6% in the 3rd quarter. Private Trust Co. NA now owns 1,183 shares of the company’s stock valued at $42,000 after acquiring an additional 392 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of First Trust Growth Strength ETF during the third quarter valued at $44,000. Fifth Third Bancorp grew its stake in shares of First Trust Growth Strength ETF by 138.8% in the second quarter. Fifth Third Bancorp now owns 2,185 shares of the company’s stock worth $75,000 after acquiring an additional 1,270 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in First Trust Growth Strength ETF in the 2nd quarter worth approximately $128,000.

About First Trust Growth Strength ETF

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.