First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Shares Up 0.5% – Should You Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s share price rose 0.5% on Monday . The company traded as high as $272.53 and last traded at $271.61. Approximately 132,127 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 475,241 shares. The stock had previously closed at $270.37.

First Trust Dow Jones Internet Index Fund Stock Performance

The company has a 50 day moving average of $273.24 and a two-hundred day moving average of $272.37. The stock has a market capitalization of $7.33 billion, a PE ratio of 32.59 and a beta of 1.16.

Hedge Funds Weigh In On First Trust Dow Jones Internet Index Fund

Hedge funds have recently modified their holdings of the stock. Keystone Global Partners LLC acquired a new stake in First Trust Dow Jones Internet Index Fund in the 2nd quarter worth approximately $26,000. Trust Co. of Vermont purchased a new position in shares of First Trust Dow Jones Internet Index Fund in the second quarter worth $27,000. Chung Wu Investment Group LLC acquired a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. GFG Capital LLC purchased a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter valued at $27,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of First Trust Dow Jones Internet Index Fund in the 2nd quarter valued at $27,000. Institutional investors and hedge funds 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.