First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Unusually-High Trading Volume – Still a Buy?

First Trust Indxx NextG ETF (NASDAQ:NXTG) shares saw strong trading volume on Tuesday . Approximately 26,043 shares traded hands during trading, an increase of 156% from the previous session’s volume of 10,165 shares.The stock last traded at $143.74 and had previously closed at $145.70.

First Trust Indxx NextG ETF Stock Performance

The company has a fifty day simple moving average of $152.04 and a two-hundred day simple moving average of $131.76. The company has a market capitalization of $539.02 million, a price-to-earnings ratio of 22.81 and a beta of 1.03.

First Trust Indxx NextG ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.5768 dividend. This is an increase from First Trust Indxx NextG ETF’s previous quarterly dividend of $0.23. This represents a $2.31 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, June 25th.

Hedge Funds Weigh In On First Trust Indxx NextG ETF

Several large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its holdings in shares of First Trust Indxx NextG ETF by 468.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,001 shares of the company’s stock worth $539,000 after acquiring an additional 4,122 shares during the period. Independent Financial Group LLC purchased a new stake in First Trust Indxx NextG ETF in the first quarter valued at approximately $2,080,000. Western Wealth Management LLC acquired a new position in First Trust Indxx NextG ETF during the first quarter worth approximately $154,000. Bank of America Corp DE increased its position in First Trust Indxx NextG ETF by 2.6% during the first quarter. Bank of America Corp DE now owns 58,654 shares of the company’s stock worth $6,565,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of First Trust Indxx NextG ETF by 1,966.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 248 shares of the company’s stock worth $26,000 after buying an additional 236 shares during the period.

First Trust Indxx NextG ETF Company Profile

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.