First Trust Global Wind Energy ETF (NYSEARCA:FAN) Trading Up 0.1% – Should You Buy?

First Trust Global Wind Energy ETF (NYSEARCA:FAN)’s share price rose 0.1% on Monday . The company traded as high as $20.40 and last traded at $20.40. Approximately 17,171 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 49,743 shares. The stock had previously closed at $20.38.

First Trust Global Wind Energy ETF Price Performance

The stock has a market cap of $189.72 million, a price-to-earnings ratio of 19.71 and a beta of 0.90. The company’s fifty day moving average price is $20.09 and its 200-day moving average price is $19.23.

Hedge Funds Weigh In On First Trust Global Wind Energy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Money Design Co. Ltd. lifted its holdings in First Trust Global Wind Energy ETF by 18.9% in the second quarter. Money Design Co. Ltd. now owns 149,987 shares of the company’s stock valued at $2,721,000 after acquiring an additional 23,858 shares during the period. UBS Group AG increased its holdings in shares of First Trust Global Wind Energy ETF by 7.6% during the 3rd quarter. UBS Group AG now owns 127,949 shares of the company’s stock valued at $2,458,000 after purchasing an additional 9,056 shares in the last quarter. Truist Financial Corp acquired a new position in shares of First Trust Global Wind Energy ETF in the 3rd quarter valued at $2,152,000. Benjamin Edwards Inc. purchased a new stake in First Trust Global Wind Energy ETF during the third quarter worth $1,572,000. Finally, Perkins Coie Trust Co boosted its holdings in First Trust Global Wind Energy ETF by 0.9% during the third quarter. Perkins Coie Trust Co now owns 62,160 shares of the company’s stock worth $1,194,000 after buying an additional 561 shares in the last quarter.

About First Trust Global Wind Energy ETF

First Trust ISE Global Wind Energy Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, of an equity index called the ISE Global Wind Energy Index. The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks that comprise the Index or in depositary receipts that may include American depositary receipts (ADRs), global depositary receipts (GDRs), European depositary receipts (EDRs) or other depositary receipts (collectively, Depositary Receipts) representing securities in the Index.