First Trust Growth Strength ETF (NASDAQ:FTGS) Sets New 1-Year High – Here’s Why

First Trust Growth Strength ETF (NASDAQ:FTGS) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.57 and last traded at $35.48, with a volume of 225336 shares trading hands. The stock had previously closed at $35.51.

First Trust Growth Strength ETF Price Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.90 and a beta of 1.11. The stock has a 50-day moving average price of $33.77 and a 200-day moving average price of $31.85.

First Trust Growth Strength ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a $0.0036 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Thursday, June 26th.

Hedge Funds Weigh In On First Trust Growth Strength ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of First Trust Growth Strength ETF by 465.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,255 shares of the company’s stock worth $71,000 after acquiring an additional 1,856 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of First Trust Growth Strength ETF by 138.8% during the 2nd quarter. Fifth Third Bancorp now owns 2,185 shares of the company’s stock worth $75,000 after acquiring an additional 1,270 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of First Trust Growth Strength ETF during the 1st quarter worth approximately $78,000. REAP Financial Group LLC boosted its position in shares of First Trust Growth Strength ETF by 81.2% during the 4th quarter. REAP Financial Group LLC now owns 2,832 shares of the company’s stock worth $89,000 after acquiring an additional 1,269 shares in the last quarter. Finally, NBC Securities Inc. boosted its position in shares of First Trust Growth Strength ETF by 152,750.0% during the 1st quarter. NBC Securities Inc. now owns 3,057 shares of the company’s stock worth $90,000 after acquiring an additional 3,055 shares in the last quarter.

About First Trust Growth Strength ETF

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.