First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) Sees Unusually-High Trading Volume – Still a Buy?

First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) saw unusually-high trading volume on Tuesday . Approximately 1,845,010 shares were traded during trading, an increase of 126% from the previous session’s volume of 817,750 shares.The stock last traded at $60.0450 and had previously closed at $60.05.

First Trust Enhanced Short Maturity ETF Price Performance

The company has a 50-day moving average price of $60.01 and a 200-day moving average price of $59.99.

First Trust Enhanced Short Maturity ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 28th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 4.0%.

Institutional Trading of First Trust Enhanced Short Maturity ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTSM. CIBC Private Wealth Group LLC acquired a new position in First Trust Enhanced Short Maturity ETF during the third quarter worth approximately $67,000. Petix & Botte Co increased its holdings in shares of First Trust Enhanced Short Maturity ETF by 2.5% during the 3rd quarter. Petix & Botte Co now owns 237,555 shares of the company’s stock worth $14,232,000 after buying an additional 5,781 shares during the last quarter. Second Line Capital LLC purchased a new position in shares of First Trust Enhanced Short Maturity ETF in the 3rd quarter worth $7,245,000. Kestra Private Wealth Services LLC boosted its holdings in First Trust Enhanced Short Maturity ETF by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 165,710 shares of the company’s stock valued at $9,928,000 after acquiring an additional 1,490 shares during the last quarter. Finally, Front Row Advisors LLC increased its stake in First Trust Enhanced Short Maturity ETF by 26.4% during the third quarter. Front Row Advisors LLC now owns 11,500 shares of the company’s stock worth $691,000 after acquiring an additional 2,400 shares during the last quarter.

About First Trust Enhanced Short Maturity ETF

The First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund that is based on the Bloomberg U.S. Short Treasury Bond index. The fund is actively-managed to invest in a variety of fixed income securities with a target maturity of less than three years. FTSM was launched on Aug 5, 2014 and is managed by First Trust.