First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Share Price Crosses Below 50-Day Moving Average – Here’s Why

by · The Markets Daily

First Trust Nasdaq Bank ETF (NASDAQ:FTXO – Get Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $40.15 and traded as low as $39.90. First Trust Nasdaq Bank ETF shares last traded at $39.97, with a volume of 40,528 shares changing hands.

First Trust Nasdaq Bank ETF Trading Down 0.9%

The company has a market capitalization of $247.81 million, a price-to-earnings ratio of 11.56 and a beta of 0.92. The firm’s 50 day simple moving average is $40.15 and its 200-day simple moving average is $39.59.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This is a negative change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572. This represents a $0.84 annualized dividend and a dividend yield of 2.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 126.4% in the 3rd quarter. Parallel Advisors LLC now owns 3,081 shares of the company’s stock valued at $119,000 after buying an additional 1,720 shares during the period. International Assets Investment Management LLC boosted its stake in shares of First Trust Nasdaq Bank ETF by 5.3% in the third quarter. International Assets Investment Management LLC now owns 9,437 shares of the company’s stock valued at $365,000 after buying an additional 473 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of First Trust Nasdaq Bank ETF by 12.4% in the third quarter. Kestra Advisory Services LLC now owns 73,599 shares of the company’s stock valued at $2,848,000 after buying an additional 8,093 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of First Trust Nasdaq Bank ETF in the third quarter valued at approximately $468,000. Finally, Compass Financial Management LLC boosted its stake in shares of First Trust Nasdaq Bank ETF by 358.4% in the third quarter. Compass Financial Management LLC now owns 11,405 shares of the company’s stock valued at $441,000 after buying an additional 8,917 shares in the last quarter.

About First Trust Nasdaq Bank ETF

(Get Free Report)

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.

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