First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $22.13 and traded as high as $22.18. First Trust NASDAQ BuyWrite Income ETF shares last traded at $22.16, with a volume of 818,534 shares traded.

First Trust NASDAQ BuyWrite Income ETF Stock Down 2.4%

The firm’s 50 day simple moving average is $22.12 and its 200 day simple moving average is $21.47. The company has a market capitalization of $1.01 billion, a PE ratio of 32.31 and a beta of 0.65.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 21st will be paid a $0.2210 dividend. This is a decrease from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.2220. This represents a $2.65 annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Trading of First Trust NASDAQ BuyWrite Income ETF

Several institutional investors have recently added to or reduced their stakes in FTQI. Spartan Wealth Advisory Services LLC purchased a new stake in shares of First Trust NASDAQ BuyWrite Income ETF in the 1st quarter worth $10,234,000. International Assets Investment Management LLC increased its stake in shares of First Trust NASDAQ BuyWrite Income ETF by 299.0% during the third quarter. International Assets Investment Management LLC now owns 600,000 shares of the company’s stock valued at $13,296,000 after buying an additional 449,609 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the third quarter valued at $4,420,000. Ameritas Advisory Services LLC raised its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 784.5% in the second quarter. Ameritas Advisory Services LLC now owns 221,703 shares of the company’s stock valued at $4,897,000 after acquiring an additional 196,637 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of First Trust NASDAQ BuyWrite Income ETF in the third quarter valued at about $2,051,000.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.