First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Share Price Crosses Below 50-Day Moving Average – Here’s Why

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $40.15 and traded as low as $39.90. First Trust Nasdaq Bank ETF shares last traded at $39.97, with a volume of 40,528 shares traded.

First Trust Nasdaq Bank ETF Stock Performance

The company has a market capitalization of $247.81 million, a PE ratio of 11.56 and a beta of 0.92. The firm’s 50-day simple moving average is $40.15 and its 200 day simple moving average is $39.59.

First Trust Nasdaq Bank ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.1%. This is a negative change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572. The ex-dividend date was Thursday, September 24th.

Institutional Trading of First Trust Nasdaq Bank ETF

A number of institutional investors have recently added to or reduced their stakes in FTXO. Tucker Asset Management LLC grew its position in First Trust Nasdaq Bank ETF by 18.8% during the second quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock worth $64,000 after buying an additional 245 shares during the period. Novem Group increased its holdings in First Trust Nasdaq Bank ETF by 6.4% in the third quarter. Novem Group now owns 6,655 shares of the company’s stock valued at $258,000 after buying an additional 399 shares in the last quarter. HBW Advisory Services LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 2.6% during the 1st quarter. HBW Advisory Services LLC now owns 16,277 shares of the company’s stock valued at $589,000 after acquiring an additional 414 shares during the period. International Assets Investment Management LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 5.3% during the 3rd quarter. International Assets Investment Management LLC now owns 9,437 shares of the company’s stock valued at $365,000 after acquiring an additional 473 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 0.8% during the 1st quarter. Kestra Advisory Services LLC now owns 62,695 shares of the company’s stock valued at $2,268,000 after acquiring an additional 481 shares during the period.

First Trust Nasdaq Bank ETF Company Profile

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.