First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) Sees Unusually-High Trading Volume – Should You Buy?

Shares of First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) saw unusually-strong trading volume on Tuesday. 2,783,927 shares traded hands during trading, an increase of 352% from the average daily volume of 615,987 shares. The stock last traded at $24.02 and had previously closed at $24.15.

First Trust TCW Unconstrained Plus Bond ETF Stock Performance

The stock has a 50-day moving average of $24.06 and a 200-day moving average of $24.68.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UCON. Harbour Investments Inc. bought a new stake in shares of First Trust TCW Unconstrained Plus Bond ETF during the 3rd quarter worth about $103,724,000. HighTower Advisors LLC acquired a new position in First Trust TCW Unconstrained Plus Bond ETF in the third quarter worth about $59,450,000. Arkadios Wealth Advisors lifted its position in shares of First Trust TCW Unconstrained Plus Bond ETF by 3,132.6% during the 1st quarter. Arkadios Wealth Advisors now owns 1,062,860 shares of the company’s stock worth $26,327,000 after buying an additional 1,029,981 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of First Trust TCW Unconstrained Plus Bond ETF in the 3rd quarter valued at $19,899,000. Finally, Commonwealth Equity Services LLC bought a new stake in First Trust TCW Unconstrained Plus Bond ETF during the third quarter worth about $19,505,000.

About First Trust TCW Unconstrained Plus Bond ETF

The First Trust TCW Unconstrained Plus Bond ETF (UCON) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund, which broadly invests in various fixed income securities of almost any sector, maturity, or credit quality. UCON was launched on Jun 4, 2018 and is managed by First Trust.