First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Trading Up 2.2% – Time to Buy?

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) shot up 2.2% during trading on Monday . The company traded as high as $266.17 and last traded at $264.17. Approximately 286,876 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 557,449 shares. The stock had previously closed at $258.43.

First Trust Dow Jones Internet Index Fund Trading Up 1.8%

The company has a market cap of $5.38 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22. The company has a fifty day moving average price of $267.92 and a two-hundred day moving average price of $258.01.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. DAVENPORT & Co LLC lifted its holdings in shares of First Trust Dow Jones Internet Index Fund by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 5,561 shares of the company’s stock worth $1,497,000 after acquiring an additional 42 shares during the period. Flaharty Asset Management LLC increased its stake in First Trust Dow Jones Internet Index Fund by 0.6% in the fourth quarter. Flaharty Asset Management LLC now owns 7,537 shares of the company’s stock valued at $2,029,000 after acquiring an additional 42 shares during the period. Petix & Botte Co raised its position in First Trust Dow Jones Internet Index Fund by 4.1% in the first quarter. Petix & Botte Co now owns 1,284 shares of the company’s stock worth $300,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC raised its position in First Trust Dow Jones Internet Index Fund by 0.6% in the fourth quarter. Sowell Financial Services LLC now owns 9,240 shares of the company’s stock worth $2,487,000 after purchasing an additional 57 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. lifted its stake in First Trust Dow Jones Internet Index Fund by 4.3% during the second quarter. FSB Premier Wealth Management Inc. now owns 1,392 shares of the company’s stock worth $375,000 after purchasing an additional 57 shares during the period. Institutional investors own 70.10% of the company’s stock.

First Trust Dow Jones Internet Index Fund Company Profile

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.