First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Hits New 52-Week High – Here’s Why

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH)’s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $44.83 and last traded at $44.3310, with a volume of 16,407 shares. The stock had previously closed at $43.87.

First Trust Nasdaq Pharmaceuticals ETF Trading Up 1.4%

The business has a 50-day moving average of $41.74 and a 200 day moving average of $37.29. The firm has a market capitalization of $1.19 billion, a P/E ratio of 14.51 and a beta of 0.45.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a $0.0113 dividend. The ex-dividend date was Thursday, September 24th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.1%. This is a drop from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920.

Hedge Funds Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Several large investors have recently added to or reduced their stakes in FTXH. Asset Dedication LLC bought a new stake in First Trust Nasdaq Pharmaceuticals ETF during the 3rd quarter worth approximately $25,000. Compass Financial Management LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the second quarter valued at approximately $29,000. Claro Advisors Inc. purchased a new position in shares of First Trust Nasdaq Pharmaceuticals ETF during the third quarter valued at approximately $312,000. Flagship Harbor Advisors LLC boosted its position in shares of First Trust Nasdaq Pharmaceuticals ETF by 50.9% during the third quarter. Flagship Harbor Advisors LLC now owns 8,500 shares of the company’s stock valued at $352,000 after buying an additional 2,868 shares during the last quarter. Finally, Vivaldi Capital Management LP grew its holdings in First Trust Nasdaq Pharmaceuticals ETF by 16.0% during the first quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock worth $433,000 after buying an additional 1,741 shares in the last quarter.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.