First Trust Water ETF (NYSEARCA:FIW) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust Water ETF (NYSEARCA:FIW) saw an uptick in trading volume on Monday . 124,756 shares were traded during mid-day trading, an increase of 113% from the previous session’s volume of 58,610 shares.The stock last traded at $108.88 and had previously closed at $109.00.

First Trust Water ETF Stock Down 1.5%

The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99. The company has a 50 day simple moving average of $105.22 and a 200 day simple moving average of $108.25.

Hedge Funds Weigh In On First Trust Water ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC grew its stake in shares of First Trust Water ETF by 0.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 9,924 shares of the company’s stock worth $1,078,000 after buying an additional 92 shares during the last quarter. O Shaughnessy Asset Management LLC boosted 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 acquiring an additional 98 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. grew its position in First Trust Water ETF by 4.2% during the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 2,646 shares of the company’s stock worth $273,000 after acquiring an additional 106 shares during the last quarter. IFP Advisors Inc grew its position in First Trust Water ETF by 17.7% during the 4th quarter. IFP Advisors Inc now owns 731 shares of the company’s stock worth $79,000 after acquiring an additional 110 shares during the last quarter. Finally, Cibc World Market Inc. increased its holdings in First Trust Water ETF by 0.8% in the 4th quarter. Cibc World Market Inc. now owns 14,936 shares of the company’s stock worth $1,623,000 after purchasing an additional 113 shares in 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.