First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Unusually-High Trading Volume Following Dividend Announcement

First Trust Growth Strength ETF (NASDAQ:FTGS) shares saw unusually-high trading volume on Wednesday after the company announced a dividend. Approximately 403,044 shares were traded during trading, an increase of 209% from the previous session’s volume of 130,264 shares. The stock last traded at $38.2850 and had previously closed at $38.50.

The newly announced dividend which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be paid a $0.0088 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, September 24th.

First Trust Growth Strength ETF Trading Down 0.3%

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 23.90 and a beta of 1.01. The company’s 50 day moving average is $38.67 and its 200-day moving average is $37.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FTGS. LPL Financial LLC lifted its holdings in First Trust Growth Strength ETF by 2.7% during the 4th quarter. LPL Financial LLC now owns 5,380,375 shares of the company’s stock valued at $190,200,000 after purchasing an additional 141,697 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of First Trust Growth Strength ETF by 3.2% in the first quarter. Cetera Investment Advisers now owns 1,490,187 shares of the company’s stock valued at $50,734,000 after purchasing an additional 46,709 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of First Trust Growth Strength ETF by 9.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,085,460 shares of the company’s stock valued at $40,164,000 after purchasing an additional 92,206 shares during the last quarter. Royal Bank of Canada raised its position in shares of First Trust Growth Strength ETF by 16.6% in the first quarter. Royal Bank of Canada now owns 514,094 shares of the company’s stock valued at $17,503,000 after purchasing an additional 73,363 shares during the period. Finally, Hobart Private Capital LLC raised its position in shares of First Trust Growth Strength ETF by 5.5% in the second quarter. Hobart Private Capital LLC now owns 425,915 shares of the company’s stock valued at $15,760,000 after purchasing an additional 22,326 shares during the period.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.