First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $24.07 and traded as low as $23.96. First Trust TCW Unconstrained Plus Bond ETF shares last traded at $24.04, with a volume of 2,874,573 shares changing hands.

First Trust TCW Unconstrained Plus Bond ETF Stock Down 0.5%

The company’s 50 day simple moving average is $24.07 and its 200 day simple moving average is $24.69.

Hedge Funds Weigh In On First Trust TCW Unconstrained Plus Bond ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. purchased a new position in shares of First Trust TCW Unconstrained Plus Bond ETF in the 3rd quarter valued at approximately $103,724,000. Royal Bank of Canada raised its stake in shares of First Trust TCW Unconstrained Plus Bond ETF by 5.4% during the first quarter. Royal Bank of Canada now owns 4,003,535 shares of the company’s stock worth $99,168,000 after purchasing an additional 203,447 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of First Trust TCW Unconstrained Plus Bond ETF by 6.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,623,316 shares of the company’s stock worth $65,268,000 after purchasing an additional 167,138 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of First Trust TCW Unconstrained Plus Bond ETF during the third quarter worth $59,450,000. Finally, Trilogy Capital Inc. lifted its holdings in shares of First Trust TCW Unconstrained Plus Bond ETF by 6.2% during the second quarter. Trilogy Capital Inc. now owns 1,572,195 shares of the company’s stock worth $39,116,000 after purchasing an additional 91,824 shares during the period.

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.