First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust Indxx NextG ETF (NASDAQ:NXTG) saw strong trading volume on Monday . 9,192 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 7,681 shares.The stock last traded at $161.09 and had previously closed at $158.91.

First Trust Indxx NextG ETF Trading Up 2.0%

The stock has a market capitalization of $599.96 million, a P/E ratio of 22.81 and a beta of 0.99. The company’s 50-day moving average is $130.71 and its two-hundred day moving average is $118.20.

First Trust Indxx NextG ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a $0.2317 dividend. The ex-dividend date was Thursday, March 26th. This represents a $0.93 annualized dividend and a yield of 0.6%.

Institutional Trading of First Trust Indxx NextG ETF

Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of First Trust Indxx NextG ETF by 1,966.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 248 shares of the company’s stock worth $26,000 after buying an additional 236 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of First Trust Indxx NextG ETF during the 1st quarter worth about $49,000. Arax Advisory Partners bought a new stake in shares of First Trust Indxx NextG ETF during the 4th quarter worth about $53,000. Geneos Wealth Management Inc. raised its position in shares of First Trust Indxx NextG ETF by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 651 shares of the company’s stock worth $63,000 after buying an additional 434 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of First Trust Indxx NextG ETF during the 4th quarter worth about $102,000.

About First Trust Indxx NextG ETF

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.