First Trust Water ETF (NYSEARCA:FIW) Hits New 12-Month Low – Should You Sell?

First Trust Water ETF (NYSEARCA:FIW)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $98.52 and last traded at $101.17, with a volume of 67593 shares changing hands. The stock had previously closed at $99.66.

First Trust Water ETF Trading Up 0.9%

The firm’s 50-day moving average price is $104.76 and its 200 day moving average price is $109.32. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 24.17 and a beta of 1.03.

Hedge Funds Weigh In On First Trust Water ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of First Trust Water ETF by 64.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 249 shares of the company’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in shares of First Trust Water ETF during the 4th quarter valued at approximately $28,000. Evolution Wealth Management Inc. bought a new stake in shares of First Trust Water ETF during the 4th quarter valued at approximately $32,000. Cullen Frost Bankers Inc. bought a new stake in shares of First Trust Water ETF during the 3rd quarter valued at approximately $35,000. Finally, Assetmark Inc. grew its holdings in shares of First Trust Water ETF by 88.0% during the 1st quarter. Assetmark Inc. now owns 344 shares of the company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter.

About First Trust Water ETF

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.