First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 52-Week High – Should You Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $293.67 and last traded at $290.9920, with a volume of 15026 shares changing hands. The stock had previously closed at $290.31.

First Trust Dow Jones Internet Index Fund Stock Up 0.3%

The stock has a 50-day simple moving average of $270.75 and a 200-day simple moving average of $259.27. The firm has a market capitalization of $5.49 billion, a PE ratio of 32.59 and a beta of 1.22.

Institutional Investors Weigh In On First Trust Dow Jones Internet Index Fund

Large investors have recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new stake in First Trust Dow Jones Internet Index Fund during the fourth quarter valued at about $27,000. Curio Wealth LLC bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the fourth quarter valued at approximately $28,000. Park National Corp OH bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the first quarter valued at approximately $28,000. Hyposwiss Advisors SA purchased a new stake in shares of First Trust Dow Jones Internet Index Fund during the 4th quarter valued at approximately $32,000. Finally, Providence Capital Advisors LLC purchased a new stake in shares of First Trust Dow Jones Internet Index Fund during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

First Trust Dow Jones Internet Index Fund Company Profile

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.