First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Strong Trading Volume – Should You Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) shares saw unusually-strong trading volume on Friday . Approximately 423,841 shares were traded during trading, an increase of 170% from the previous session’s volume of 156,854 shares.The stock last traded at $19.16 and had previously closed at $19.20.

First Trust NASDAQ BuyWrite Income ETF Stock Performance

The firm has a fifty day simple moving average of $20.48 and a 200-day simple moving average of $20.65. The firm has a market cap of $515.47 million, a price-to-earnings ratio of 30.28 and a beta of 0.52.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a $0.207 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.20. This represents a $2.48 annualized dividend and a yield of 12.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FTQI. Arete Wealth Advisors LLC grew its stake in First Trust NASDAQ BuyWrite Income ETF by 3.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 17,706 shares of the company’s stock valued at $369,000 after acquiring an additional 543 shares during the period. Wedbush Securities Inc. boosted its stake in First Trust NASDAQ BuyWrite Income ETF by 2.3% in the fourth quarter. Wedbush Securities Inc. now owns 31,759 shares of the company’s stock valued at $661,000 after acquiring an additional 717 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in First Trust NASDAQ BuyWrite Income ETF by 7.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,999 shares of the company’s stock valued at $312,000 after purchasing an additional 1,098 shares during the period. Global Retirement Partners LLC bought a new stake in First Trust NASDAQ BuyWrite Income ETF in the 4th quarter valued at about $32,000. Finally, MML Investors Services LLC boosted its holdings in First Trust NASDAQ BuyWrite Income ETF by 4.6% in the 3rd quarter. MML Investors Services LLC now owns 43,080 shares of the company’s stock worth $882,000 after buying an additional 1,883 shares during the period.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.