First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Shares Up 1.6% – Time to Buy?

Shares of First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) shot up 1.6% on Wednesday . The stock traded as high as $22.86 and last traded at $22.78. 17,047 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 20,829 shares. The stock had previously closed at $22.43.

First Trust Nasdaq Food & Beverage ETF Stock Up 1.6%

The company has a 50-day simple moving average of $22.21 and a two-hundred day simple moving average of $22.13. The stock has a market cap of $17.09 million, a P/E ratio of 15.14 and a beta of 0.39.

First Trust Nasdaq Food & Beverage ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.0893 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On First Trust Nasdaq Food & Beverage ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC bought a new position in shares of First Trust Nasdaq Food & Beverage ETF during the first quarter valued at approximately $25,000. Miller Global Investments LLC bought a new position in shares of First Trust Nasdaq Food & Beverage ETF during the fourth quarter valued at approximately $36,000. Royal Bank of Canada raised its holdings in shares of First Trust Nasdaq Food & Beverage ETF by 348.0% during the fourth quarter. Royal Bank of Canada now owns 5,430 shares of the company’s stock valued at $114,000 after acquiring an additional 4,218 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of First Trust Nasdaq Food & Beverage ETF by 31.2% during the fourth quarter. Osaic Holdings Inc. now owns 6,344 shares of the company’s stock valued at $133,000 after acquiring an additional 1,508 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of First Trust Nasdaq Food & Beverage ETF during the second quarter valued at approximately $147,000.

About First Trust Nasdaq Food & Beverage ETF

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.