First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Strong Trading Volume – Still a Buy?

First Trust Growth Strength ETF (NASDAQ:FTGS) shares saw an uptick in trading volume on Wednesday . 848,109 shares traded hands during trading, an increase of 231% from the previous session’s volume of 256,327 shares.The stock last traded at $36.27 and had previously closed at $35.76.

First Trust Growth Strength ETF Stock Up 1.3%

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 23.90 and a beta of 1.12. The company has a 50-day moving average price of $35.44 and a 200 day moving average price of $35.42.

First Trust Growth Strength ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.0055 per share. The ex-dividend date was Friday, December 12th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%.

Hedge Funds Weigh In On First Trust Growth Strength ETF

A number of large investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC boosted its holdings in shares of First Trust Growth Strength ETF by 6,214.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock worth $31,000 after purchasing an additional 870 shares during the period. Stratos Wealth Partners LTD. increased its stake in First Trust Growth Strength ETF by 6.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 31,924 shares of the company’s stock valued at $1,129,000 after buying an additional 1,797 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in First Trust Growth Strength ETF in the 4th quarter worth approximately $265,000. RiverTree Advisors LLC lifted its position in First Trust Growth Strength ETF by 2.3% in the 4th quarter. RiverTree Advisors LLC now owns 144,257 shares of the company’s stock worth $5,100,000 after buying an additional 3,311 shares in the last quarter. Finally, Centennial Wealth Advisory LLC boosted its stake in shares of First Trust Growth Strength ETF by 13.8% during the 4th quarter. Centennial Wealth Advisory LLC now owns 124,840 shares of the company’s stock valued at $4,413,000 after buying an additional 15,124 shares during the period.

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. FTGS was launched on Oct 25, 2022 and is managed by First Trust.