First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 1-Year High – Still a Buy?

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) hit a new 52-week high during trading on Friday . The company traded as high as $296.02 and last traded at $296.02, with a volume of 22383 shares trading hands. The stock had previously closed at $293.83.

First Trust Dow Jones Internet Index Fund Stock Performance

The business’s 50-day moving average is $275.31 and its two-hundred day moving average is $261.79. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22.

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

Several hedge funds have recently bought and sold shares of the company. SHP Wealth Management acquired a new position in shares of First Trust Dow Jones Internet Index Fund in the 4th quarter valued at $27,000. Curio Wealth LLC acquired a new stake in First Trust Dow Jones Internet Index Fund during the 4th quarter worth $28,000. Park National Corp OH acquired a new stake in First Trust Dow Jones Internet Index Fund during the 1st quarter worth $28,000. Hyposwiss Advisors SA bought a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter worth about $32,000. Finally, Providence Capital Advisors LLC bought a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter worth about $32,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.

About First Trust Dow Jones Internet Index Fund

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.