First Trust Dividend Strength ETF (NASDAQ:FTDS) Trading Down 0.8% – Here’s Why

First Trust Dividend Strength ETF (NASDAQ:FTDS) shares fell 0.8% on Friday . The company traded as low as $66.27 and last traded at $66.2760. 330 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,981 shares. The stock had previously closed at $66.78.

First Trust Dividend Strength ETF Stock Performance

The company has a market cap of $39.77 million, a price-to-earnings ratio of 14.53 and a beta of 0.82. The company has a fifty day moving average of $64.48 and a two-hundred day moving average of $62.01.

First Trust Dividend Strength ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1928 per share. This represents a $0.77 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Dividend Strength ETF

Several hedge funds have recently added to or reduced their stakes in FTDS. CreativeOne Wealth LLC acquired a new stake in First Trust Dividend Strength ETF in the third quarter valued at $543,000. LPL Financial LLC lifted its holdings in First Trust Dividend Strength ETF by 5.7% during the 4th quarter. LPL Financial LLC now owns 138,676 shares of the company’s stock worth $7,834,000 after buying an additional 7,495 shares during the period. Truist Financial Corp bought a new stake in shares of First Trust Dividend Strength ETF in the 4th quarter valued at about $220,000. Susquehanna International Group LLP raised its position in shares of First Trust Dividend Strength ETF by 41.0% during the third quarter. Susquehanna International Group LLP now owns 13,222 shares of the company’s stock worth $735,000 after acquiring an additional 3,844 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of First Trust Dividend Strength ETF in the first quarter worth approximately $209,000.

First Trust Dividend Strength ETF Company Profile

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio. FTDS was launched on Dec 6, 2006 and is managed by First Trust.