NewEdge Advisors LLC Has $5.42 Million Position in First Trust Nasdaq Bank ETF $FTXO

NewEdge Advisors LLC boosted its stake in shares of First Trust Nasdaq Bank ETF (NASDAQ:FTXO) by 84.3% during the first quarter, Holdings Channel.com reports. The fund owned 150,000 shares of the company’s stock after acquiring an additional 68,593 shares during the period. NewEdge Advisors LLC’s holdings in First Trust Nasdaq Bank ETF were worth $5,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank bought a new stake in shares of First Trust Nasdaq Bank ETF during the 1st quarter valued at $28,000. Fifth Third Bancorp acquired a new stake in shares of First Trust Nasdaq Bank ETF during the 1st quarter worth $30,000. JPMorgan Chase & Co. bought a new position in shares of First Trust Nasdaq Bank ETF in the third quarter worth $37,000. NBC Securities Inc. increased its position in shares of First Trust Nasdaq Bank ETF by 22.5% in the fourth quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after purchasing an additional 301 shares during the period. Finally, Sound Income Strategies LLC raised its stake in First Trust Nasdaq Bank ETF by 1,811.2% in the first quarter. Sound Income Strategies LLC now owns 2,045 shares of the company’s stock valued at $75,000 after purchasing an additional 1,938 shares in the last quarter.

First Trust Nasdaq Bank ETF Stock Up 0.7%

FTXO opened at $43.23 on Wednesday. First Trust Nasdaq Bank ETF has a twelve month low of $32.90 and a twelve month high of $43.71. The company has a 50-day simple moving average of $41.65 and a 200 day simple moving average of $39.21. The stock has a market capitalization of $313.42 million, a price-to-earnings ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.2572 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 25th. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.