First Trust Natural Gas ETF (NYSEARCA:FCG) Sets New 52-Week High – Still a Buy?

First Trust Natural Gas ETF (NYSEARCA:FCG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.84 and last traded at $25.94, with a volume of 80129 shares. The stock had previously closed at $26.59.

First Trust Natural Gas ETF Trading Up 2.6%

The stock has a market capitalization of $554.89 million, a PE ratio of 10.55 and a beta of 0.87. The business has a fifty day moving average price of $24.34 and a 200-day moving average price of $23.72.

Hedge Funds Weigh In On First Trust Natural Gas ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trek Financial LLC raised its holdings in First Trust Natural Gas ETF by 63.2% in the 2nd quarter. Trek Financial LLC now owns 58,149 shares of the company’s stock worth $1,344,000 after purchasing an additional 22,526 shares during the period. Sigma Planning Corp bought a new stake in First Trust Natural Gas ETF during the second quarter valued at about $537,000. Skylands Capital LLC increased its position in First Trust Natural Gas ETF by 53.2% in the third quarter. Skylands Capital LLC now owns 79,500 shares of the company’s stock worth $1,867,000 after buying an additional 27,600 shares in the last quarter. Corrado Advisors LLC raised its stake in shares of First Trust Natural Gas ETF by 10.4% in the second quarter. Corrado Advisors LLC now owns 45,182 shares of the company’s stock worth $1,044,000 after buying an additional 4,238 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in shares of First Trust Natural Gas ETF in the second quarter worth about $316,000.

About First Trust Natural Gas ETF

First Trust ISE-Revere Natural Gas Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE-REVERE Natural Gas Index (the Index). The Index is an equal-weighted index consisting of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the universe of stocks listed in the United States of companies involved in the natural gas exploration and production industries and then eliminates stocks whose natural gas-proven reserves do not meet certain requirements.