First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Hits New 1-Year High – Here’s Why

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $299.00 and last traded at $296.8050, with a volume of 7379 shares changing hands. The stock had previously closed at $296.85.

First Trust Dow Jones Internet Index Fund Price Performance

The company has a fifty day moving average price of $283.42 and a 200 day moving average price of $267.85. The company has a market cap of $5.39 billion, a PE ratio of 32.59 and a beta of 1.22.

Institutional Trading of First Trust Dow Jones Internet Index Fund

Several institutional investors and hedge funds have recently made changes to their positions in FDN. Bullseye Investment Management LLC purchased a new position in First Trust Dow Jones Internet Index Fund in the second quarter worth $71,000. Summit Financial Strategies Inc. purchased a new stake in First Trust Dow Jones Internet Index Fund during the second quarter valued at about $210,000. Integrated Wealth Concepts LLC lifted its stake in First Trust Dow Jones Internet Index Fund by 44.4% during the second quarter. Integrated Wealth Concepts LLC now owns 12,007 shares of the company’s stock worth $3,178,000 after purchasing an additional 3,694 shares during the last quarter. RFG Advisory LLC lifted its stake in First Trust Dow Jones Internet Index Fund by 74.7% during the second quarter. RFG Advisory LLC now owns 12,063 shares of the company’s stock worth $3,193,000 after purchasing an additional 5,158 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of First Trust Dow Jones Internet Index Fund in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

First Trust Dow Jones Internet Index Fund Company Profile

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.