First Trust Growth Strength ETF (NASDAQ:FTGS) Reaches New 52-Week High – Still a Buy?

First Trust Growth Strength ETF (NASDAQ:FTGS)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.66 and last traded at $38.60, with a volume of 10387 shares. The stock had previously closed at $38.29.

First Trust Growth Strength ETF Trading Up 1.9%

The stock has a market cap of $1.34 billion, a P/E ratio of 23.90 and a beta of 1.01. The stock has a 50 day simple moving average of $37.44 and a 200 day simple moving average of $36.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FTGS. Rothschild Investment LLC bought a new stake in First Trust Growth Strength ETF during the fourth quarter worth about $28,000. Capital Investment Advisory Services LLC increased its holdings in First Trust Growth Strength ETF by 6,214.3% in the 4th quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock valued at $31,000 after buying an additional 870 shares during the period. Allworth Financial LP bought a new position in First Trust Growth Strength ETF in the 3rd quarter valued at about $32,000. Cullen Frost Bankers Inc. raised its position in shares of First Trust Growth Strength ETF by 58.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after buying an additional 385 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First Trust Growth Strength ETF by 100.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock worth $40,000 after acquiring an additional 557 shares during the period.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.