First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sets New 12-Month High – Still a Buy?

Shares of First Trust US Equity Opportunities ETF (NYSEARCA:FPX) reached a new 52-week high on Monday . The company traded as high as $202.95 and last traded at $202.41, with a volume of 9987 shares changing hands. The stock had previously closed at $200.41.

First Trust US Equity Opportunities ETF Trading Up 0.9%

The stock has a 50 day simple moving average of $185.79 and a 200-day simple moving average of $172.40. The firm has a market capitalization of $1.49 billion, a P/E ratio of 32.81 and a beta of 1.28.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in First Trust US Equity Opportunities ETF by 0.6% during the first quarter. Royal Bank of Canada now owns 51,337 shares of the company’s stock valued at $5,736,000 after buying an additional 313 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of First Trust US Equity Opportunities ETF by 1.3% during the 1st quarter. NewEdge Advisors LLC now owns 8,745 shares of the company’s stock valued at $977,000 after acquiring an additional 110 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of First Trust US Equity Opportunities ETF by 36.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,044 shares of the company’s stock valued at $151,000 after acquiring an additional 278 shares during the period. Baird Financial Group Inc. increased its stake in shares of First Trust US Equity Opportunities ETF by 6.3% in the 2nd quarter. Baird Financial Group Inc. now owns 10,457 shares of the company’s stock worth $1,515,000 after purchasing an additional 624 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of First Trust US Equity Opportunities ETF by 19.5% in the 2nd quarter. Raymond James Financial Inc. now owns 145,503 shares of the company’s stock worth $21,085,000 after purchasing an additional 23,784 shares in the last quarter.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.