First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Strong Trading Volume – Still a Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw unusually-strong trading volume on Tuesday . Approximately 678,752 shares were traded during mid-day trading, an increase of 154% from the previous session’s volume of 267,466 shares.The stock last traded at $20.19 and had previously closed at $20.31.

First Trust NASDAQ BuyWrite Income ETF Stock Down 0.6%

The stock has a market capitalization of $786.40 million, a PE ratio of 32.31 and a beta of 0.60. The business’s 50-day moving average is $20.41 and its two-hundred day moving average is $20.66.

First Trust NASDAQ BuyWrite Income ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a $0.207 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Institutional Investors Weigh In On First Trust NASDAQ BuyWrite Income ETF

A number of institutional investors and hedge funds have recently bought and sold shares of FTQI. Wells Fargo & Company MN lifted its position in First Trust NASDAQ BuyWrite Income ETF by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,011,400 shares of the company’s stock valued at $41,877,000 after acquiring an additional 417,518 shares during the last quarter. LPL Financial LLC increased its stake in First Trust NASDAQ BuyWrite Income ETF by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,185,721 shares of the company’s stock valued at $66,327,000 after purchasing an additional 307,710 shares during the period. Sun Financial Inc acquired a new position in First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at $5,052,000. Janney Montgomery Scott LLC increased its stake in First Trust NASDAQ BuyWrite Income ETF by 97.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 143,722 shares of the company’s stock valued at $2,992,000 after purchasing an additional 70,792 shares during the period. Finally, Arax Advisory Partners acquired a new position in First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at $1,357,000.

First Trust NASDAQ BuyWrite Income ETF Company Profile

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.