First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Strong Trading Volume – Here’s Why

First Trust Indxx NextG ETF (NASDAQ:NXTG) shares saw an uptick in trading volume on Tuesday . 13,431 shares changed hands during mid-day trading, an increase of 59% from the previous session’s volume of 8,424 shares.The stock last traded at $154.98 and had previously closed at $155.07.

First Trust Indxx NextG ETF Stock Performance

The company has a market cap of $559.18 million, a price-to-earnings ratio of 22.81 and a beta of 1.03. The firm has a fifty day moving average price of $136.43 and a 200 day moving average price of $120.49.

First Trust Indxx NextG ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.2317 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.93 annualized dividend and a yield of 0.6%.

Institutional Investors Weigh In On First Trust Indxx NextG ETF

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in First Trust Indxx NextG ETF by 1,966.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 248 shares of the company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Parallel Advisors LLC acquired a new stake in First Trust Indxx NextG ETF during the 1st quarter valued at $49,000. Arax Advisory Partners acquired a new stake in First Trust Indxx NextG ETF during the 4th quarter valued at $53,000. Geneos Wealth Management Inc. lifted its holdings in First Trust Indxx NextG ETF by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 434 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in First Trust Indxx NextG ETF during the 4th quarter valued at $102,000.

About First Trust Indxx NextG ETF

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.