First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Shares Up 1.6% – Time to Buy?

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) shares were up 1.6% during mid-day trading on Wednesday . The company traded as high as $22.86 and last traded at $22.78. Approximately 17,047 shares changed hands during trading, a decline of 18% from the average daily volume of 20,829 shares. The stock had previously closed at $22.43.

First Trust Nasdaq Food & Beverage ETF Stock Performance

The business’s fifty day simple moving average is $22.21 and its 200-day simple moving average is $22.13. The firm has a market capitalization of $17.09 million, a PE ratio of 15.14 and a beta of 0.39.

First Trust Nasdaq Food & Beverage ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a $0.0893 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.36 dividend on an annualized basis and a yield of 1.6%.

Hedge Funds Weigh In On First Trust Nasdaq Food & Beverage ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Journey Advisory Group LLC purchased a new position in shares of First Trust Nasdaq Food & Beverage ETF in the 1st quarter worth approximately $2,576,000. UBS Group AG purchased a new position in shares of First Trust Nasdaq Food & Beverage ETF in the 3rd quarter worth approximately $1,000,000. Wakefield Asset Management LLLP boosted its holdings in shares of First Trust Nasdaq Food & Beverage ETF by 3.7% in the 3rd quarter. Wakefield Asset Management LLLP now owns 42,790 shares of the company’s stock worth $917,000 after purchasing an additional 1,511 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of First Trust Nasdaq Food & Beverage ETF by 94.9% in the 4th quarter. IHT Wealth Management LLC now owns 39,201 shares of the company’s stock worth $821,000 after purchasing an additional 19,090 shares during the period. Finally, Financial Solutions Advisory Group Inc. purchased a new position in shares of First Trust Nasdaq Food & Beverage ETF in the 1st quarter worth approximately $817,000.

First Trust Nasdaq Food & Beverage ETF Company Profile

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.