First Trust Water ETF (NYSEARCA:FIW) Sees Strong Trading Volume – Here’s Why

First Trust Water ETF (NYSEARCA:FIW) shares saw strong trading volume on Wednesday . Approximately 78,567 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 55,592 shares.The stock last traded at $105.9070 and had previously closed at $106.09.

First Trust Water ETF Trading Down 0.0%

The stock has a fifty day simple moving average of $109.08 and a 200-day simple moving average of $106.74. The company has a market capitalization of $1.76 billion, a PE ratio of 24.17 and a beta of 0.99.

Institutional Investors Weigh In On First Trust Water ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIW. Waverly Advisors LLC lifted its stake in shares of First Trust Water ETF by 7.2% in the 2nd quarter. Waverly Advisors LLC now owns 28,814 shares of the company’s stock worth $3,156,000 after acquiring an additional 1,941 shares during the period. Carlson Financial Inc. boosted its holdings in First Trust Water ETF by 21.4% during the second quarter. Carlson Financial Inc. now owns 2,576 shares of the company’s stock worth $282,000 after buying an additional 454 shares in the last quarter. Ameritas Advisory Services LLC grew its position in First Trust Water ETF by 42.4% during the second quarter. Ameritas Advisory Services LLC now owns 157,875 shares of the company’s stock worth $17,290,000 after buying an additional 47,042 shares during the period. Compass Financial Management LLC acquired a new position in First Trust Water ETF during the second quarter worth about $43,000. Finally, William John Sempolinski purchased a new position in First Trust Water ETF in the second quarter valued at about $2,913,000.

About First Trust Water ETF

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.