First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Sets New 52-Week High – Should You Buy?

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN)’s share price hit a new 52-week high during trading on Tuesday. The company traded as high as $42.00 and last traded at $41.9610, with a volume of 112,370 shares. The stock had previously closed at $41.12.

First Trust Nasdaq Oil & Gas ETF Stock Performance

The company has a market capitalization of $1.15 billion, a P/E ratio of 11.81 and a beta of 0.58. The stock has a fifty day moving average of $39.56 and a 200 day moving average of $37.33.

First Trust Nasdaq Oil & Gas ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.2445 dividend. The ex-dividend date was Thursday, September 24th. This is a positive change from First Trust Nasdaq Oil & Gas ETF’s previous quarterly dividend of $0.1168. This represents a $0.98 dividend on an annualized basis and a yield of 2.3%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in First Trust Nasdaq Oil & Gas ETF during the 2nd quarter worth approximately $32,000. MCF Advisors LLC purchased a new position in First Trust Nasdaq Oil & Gas ETF during the second quarter valued at approximately $46,000. Geneos Wealth Management Inc. boosted its position in shares of First Trust Nasdaq Oil & Gas ETF by 2,540.0% in the first quarter. Geneos Wealth Management Inc. now owns 2,640 shares of the company’s stock worth $102,000 after purchasing an additional 2,540 shares during the period. Kestra Private Wealth Services LLC bought a new position in shares of First Trust Nasdaq Oil & Gas ETF in the first quarter worth approximately $236,000. Finally, Parallel Advisors LLC boosted its position in shares of First Trust Nasdaq Oil & Gas ETF by 418.5% in the first quarter. Parallel Advisors LLC now owns 6,538 shares of the company’s stock worth $252,000 after purchasing an additional 5,277 shares during the period.

First Trust Nasdaq Oil & Gas ETF Company Profile

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.