First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Trading Down 0.4% – Here’s Why

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s share price was down 0.4% during mid-day trading on Monday . The stock traded as low as $269.17 and last traded at $270.58. Approximately 281,986 shares traded hands during trading, a decline of 52% from the average daily volume of 587,158 shares. The stock had previously closed at $271.79.

First Trust Dow Jones Internet Index Fund Price Performance

The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22. The business’s 50-day moving average price is $261.64 and its two-hundred day moving average price is $258.51.

Institutional Investors Weigh In On First Trust Dow Jones Internet Index Fund

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Trust Dow Jones Internet Index Fund by 10,327.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 969,394 shares of the company’s stock valued at $260,941,000 after acquiring an additional 960,097 shares in the last quarter. Millennium Management LLC lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 84.6% in the third quarter. Millennium Management LLC now owns 650,113 shares of the company’s stock worth $181,928,000 after acquiring an additional 297,881 shares in the last quarter. UBS Group AG lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 21.7% in the third quarter. UBS Group AG now owns 879,200 shares of the company’s stock worth $246,035,000 after acquiring an additional 156,607 shares in the last quarter. Citigroup Inc. boosted its holdings in First Trust Dow Jones Internet Index Fund by 1,225.4% in the third quarter. Citigroup Inc. now owns 128,493 shares of the company’s stock valued at $35,957,000 after purchasing an additional 118,798 shares during the last quarter. Finally, Earned Wealth Advisors LLC purchased a new position in First Trust Dow Jones Internet Index Fund in the fourth quarter valued at about $23,822,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

About First Trust Dow Jones Internet Index Fund

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.