First Trust Water ETF (NYSEARCA:FIW) Sees Strong Trading Volume – Time to Buy?

First Trust Water ETF (NYSEARCA:FIW) saw unusually-strong trading volume on Monday . 148,444 shares changed hands during mid-day trading, an increase of 176% from the previous session’s volume of 53,870 shares.The stock last traded at $109.77 and had previously closed at $110.47.

First Trust Water ETF Stock Down 1.8%

The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99. The company has a fifty day moving average price of $109.61 and a two-hundred day moving average price of $107.42.

Institutional Trading of First Trust Water ETF

Large investors have recently bought and sold shares of the business. LPL Financial LLC increased its stake in First Trust Water ETF by 3.9% in the fourth quarter. LPL Financial LLC now owns 936,052 shares of the company’s stock valued at $101,693,000 after purchasing an additional 34,753 shares during the period. Bank of America Corp DE raised its holdings in shares of First Trust Water ETF by 3.1% in the third quarter. Bank of America Corp DE now owns 483,853 shares of the company’s stock valued at $54,361,000 after buying an additional 14,736 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of First Trust Water ETF by 18.2% in the third quarter. Raymond James Financial Inc. now owns 260,093 shares of the company’s stock valued at $29,221,000 after buying an additional 39,966 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of First Trust Water ETF by 0.9% during the fourth quarter. Stifel Financial Corp now owns 222,375 shares of the company’s stock worth $24,160,000 after buying an additional 2,002 shares during the period. Finally, Arax Advisory Partners acquired a new stake in shares of First Trust Water ETF during the fourth quarter worth about $20,342,000.

First Trust Water ETF Company Profile

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.