First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Hits New 52-Week High – Should You Buy?

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) shares reached a new 52-week high on Thursday. The company traded as high as $44.19 and last traded at $43.8480, with a volume of 2,825 shares changing hands. The stock had previously closed at $43.25.

First Trust Nasdaq Pharmaceuticals ETF Stock Up 1.1%

The company has a market capitalization of $1.18 billion, a P/E ratio of 14.51 and a beta of 0.45. The business’s 50-day moving average is $41.68 and its two-hundred day moving average is $37.19.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were paid a $0.0113 dividend. This is a negative change from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920. The ex-dividend date was Thursday, September 24th. This represents a $0.05 annualized dividend and a yield of 0.1%.

Hedge Funds Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Several hedge funds have recently modified their holdings of the company. Compass Financial Management LLC purchased a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the second quarter valued at approximately $29,000. Flagship Harbor Advisors LLC boosted its position in First Trust Nasdaq Pharmaceuticals ETF by 50.9% in the third quarter. Flagship Harbor Advisors LLC now owns 8,500 shares of the company’s stock worth $352,000 after purchasing an additional 2,868 shares during the last quarter. Vivaldi Capital Management LP boosted its position in First Trust Nasdaq Pharmaceuticals ETF by 16.0% in the first quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock worth $433,000 after purchasing an additional 1,741 shares during the last quarter. Englebert Financial Advisers LLC purchased a new position in First Trust Nasdaq Pharmaceuticals ETF in the third quarter worth $751,000. Finally, MinichMacGregor Wealth Management LLC bought a new position in First Trust Nasdaq Pharmaceuticals ETF in the 3rd quarter valued at $968,000.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.