First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Sees Large Volume Increase – Still a Buy?

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) saw an uptick in trading volume on Friday. Approximately 750,425 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 690,403 shares. The stock last traded at $28.9650 and had previously closed at $28.98.

First Trust Global Tactical Commodity Strategy Fund Trading Down 0.0%

The business’s 50 day simple moving average is $30.84 and its 200 day simple moving average is $28.71.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.1317 dividend. The ex-dividend date was Thursday, September 24th. This is a decrease from First Trust Global Tactical Commodity Strategy Fund’s previous quarterly dividend of $0.1691. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.8%.

Institutional Trading of First Trust Global Tactical Commodity Strategy Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FTGC. Envestnet Asset Management Inc. boosted its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 880.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,478,012 shares of the company’s stock valued at $202,280,000 after purchasing an additional 6,715,450 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in shares of First Trust Global Tactical Commodity Strategy Fund during the third quarter valued at about $15,803,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter worth about $12,719,000. Cooper Financial Group bought a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter worth about $10,454,000. Finally, Financial Enhancement Group LLC increased its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 38.9% in the second quarter. Financial Enhancement Group LLC now owns 666,514 shares of the company’s stock worth $18,029,000 after purchasing an additional 186,572 shares during the last quarter.

About First Trust Global Tactical Commodity Strategy Fund

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.