First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Shares Down 0.4% – Here’s Why

Shares of First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) were down 0.4% during mid-day trading on Tuesday . The company traded as low as $35.50 and last traded at $35.67. Approximately 9,960 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 7,832 shares. The stock had previously closed at $35.81.

First Trust Nasdaq Pharmaceuticals ETF Stock Down 0.7%

The firm has a market capitalization of $31.84 million, a price-to-earnings ratio of 14.51 and a beta of 0.47. The stock has a 50-day moving average price of $34.55 and a 200 day moving average price of $34.07.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a $0.0573 dividend. The ex-dividend date was Thursday, March 26th. This represents a $0.23 dividend on an annualized basis and a yield of 0.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. raised its holdings in shares of First Trust Nasdaq Pharmaceuticals ETF by 33.0% in the 4th quarter. NBC Securities Inc. now owns 1,325 shares of the company’s stock valued at $44,000 after purchasing an additional 329 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of First Trust Nasdaq Pharmaceuticals ETF during the second quarter worth $57,000. Kestra Advisory Services LLC purchased a new position in First Trust Nasdaq Pharmaceuticals ETF in the fourth quarter valued at $59,000. Flagship Harbor Advisors LLC purchased a new position in First Trust Nasdaq Pharmaceuticals ETF in the fourth quarter valued at $205,000. Finally, Flputnam Investment Management Co. purchased a new position in First Trust Nasdaq Pharmaceuticals ETF in the fourth quarter valued at $230,000.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.