First Trust SMID Capital Strength ETF (NASDAQ:FSCS) Shares Up 1.1% Following Dividend Announcement

First Trust SMID Capital Strength ETF (NASDAQ:FSCS)’s share price shot up 1.1% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $36.68 and last traded at $36.56. Approximately 8,049 shares were traded during mid-day trading, an increase of 36% from the average session volume of 5,902 shares. The stock had previously closed at $36.17.

The newly announced dividend which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be paid a $0.1219 dividend. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 25th. This is an increase from First Trust SMID Capital Strength ETF’s previous quarterly dividend of $0.09.

First Trust SMID Capital Strength ETF Trading Up 1.0%

The company has a market capitalization of $59.18 million, a price-to-earnings ratio of 16.57 and a beta of 0.89. The business’s 50 day moving average price is $35.88 and its two-hundred day moving average price is $36.22.

Institutional Trading of First Trust SMID Capital Strength ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of First Trust SMID Capital Strength ETF by 48.7% during the fourth quarter. CWM LLC now owns 1,213 shares of the company’s stock worth $43,000 after buying an additional 397 shares in the last quarter. International Assets Investment Management LLC grew its position in First Trust SMID Capital Strength ETF by 5.3% during the 4th quarter. International Assets Investment Management LLC now owns 6,390 shares of the company’s stock worth $229,000 after acquiring an additional 321 shares during the last quarter. Equitable Holdings Inc. acquired a new position in First Trust SMID Capital Strength ETF in the 3rd quarter worth about $274,000. Envestnet Asset Management Inc. increased its holdings in First Trust SMID Capital Strength ETF by 7.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,257 shares of the company’s stock worth $303,000 after purchasing an additional 550 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in First Trust SMID Capital Strength ETF by 10.7% in the fourth quarter. Cetera Investment Advisers now owns 8,584 shares of the company’s stock valued at $307,000 after purchasing an additional 829 shares during the last quarter.

About First Trust SMID Capital Strength ETF

The First Trust SMID Capital Strength ETF (FSCS) is an exchange-traded fund that is based on the The SMID Capital Strength index. The fund tracks an equal-weighted index of 100 well-capitalized small- and mid-cap US companies perceived to hold strong market positions. FSCS was launched on Jun 20, 2017 and is issued by First Trust.