First Trust STOXX European Select Dividend Index Fund (NYSEARCA:FDD) Shares Down 1.2% – Should You Sell?

First Trust STOXX European Select Dividend Index Fund (NYSEARCA:FDD) dropped 1.2% on Thursday. The company traded as low as $19.46 and last traded at $19.54. 72,183 shares traded hands during trading, a decline of 67% from the average session volume of 219,290 shares. The stock had previously closed at $19.78.

First Trust STOXX European Select Dividend Index Fund Stock Down 1.2%

The company’s fifty day moving average price is $20.19 and its 200-day moving average price is $19.31. The stock has a market capitalization of $897.86 million, a PE ratio of 9.67 and a beta of 0.68.

Institutional Investors Weigh In On First Trust STOXX European Select Dividend Index Fund

A number of institutional investors have recently modified their holdings of FDD. Manchester Financial Inc. raised its position in shares of First Trust STOXX European Select Dividend Index Fund by 37.7% in the 1st quarter. Manchester Financial Inc. now owns 1,966,746 shares of the company’s stock worth $35,028,000 after purchasing an additional 538,011 shares during the last quarter. Bank of America Corp DE increased its stake in First Trust STOXX European Select Dividend Index Fund by 52.3% during the 1st quarter. Bank of America Corp DE now owns 669,210 shares of the company’s stock valued at $11,919,000 after purchasing an additional 229,723 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in First Trust STOXX European Select Dividend Index Fund by 5.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 390,954 shares of the company’s stock valued at $7,252,000 after purchasing an additional 18,831 shares in the last quarter. Foresight Capital Management Advisors Inc. raised its holdings in First Trust STOXX European Select Dividend Index Fund by 0.5% in the second quarter. Foresight Capital Management Advisors Inc. now owns 215,059 shares of the company’s stock worth $3,989,000 after buying an additional 990 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in First Trust STOXX European Select Dividend Index Fund by 21.2% in the second quarter. NewEdge Advisors LLC now owns 206,138 shares of the company’s stock worth $3,824,000 after buying an additional 36,069 shares during the last quarter.

About First Trust STOXX European Select Dividend Index Fund

First Trust DJ STOXX Select Dividend 30 Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones STOXX Select Dividend 30 Index (the Index). The Index is a dividend weighted index of 30 stocks selected from the Dow Jones STOXX 600 Index, which includes high-dividend yielding companies across 18 European countries. The universe of stocks consists of dividend-paying companies in the Dow Jones STOXX 600 Index that have a positive five-year dividend-per-share growth rate and a dividend to earnings-per-share ratio of 60% or less.