First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Stock Price Up 0.5% – Time to Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price shot up 0.5% on Wednesday . The company traded as high as $258.30 and last traded at $256.92. 469,999 shares changed hands during trading, an increase of 80% from the average session volume of 261,000 shares. The stock had previously closed at $255.69.

First Trust Dow Jones Internet Index Fund Price Performance

The company has a market cap of $6.27 billion, a P/E ratio of 32.59 and a beta of 1.16. The stock has a 50-day moving average of $267.95 and a 200 day moving average of $273.31.

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

Several hedge funds and other institutional investors have recently made changes to their positions in FDN. Keystone Global Partners LLC bought a new stake in shares of First Trust Dow Jones Internet Index Fund during the 2nd quarter worth approximately $26,000. Trust Co. of Vermont acquired a new position in First Trust Dow Jones Internet Index Fund during the second quarter valued at approximately $27,000. Chung Wu Investment Group LLC bought a new stake in First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. GFG Capital LLC bought a new stake in First Trust Dow Jones Internet Index Fund during the second quarter worth $27,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of First Trust Dow Jones Internet Index Fund in the 2nd quarter valued at $27,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.

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.