First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sees Unusually-High Trading Volume – Still a Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) shares saw unusually-strong trading volume on Thursday . Approximately 92,859 shares traded hands during mid-day trading, an increase of 166% from the previous session’s volume of 34,952 shares.The stock last traded at $188.70 and had previously closed at $182.14.

First Trust US Equity Opportunities ETF Price Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 32.81 and a beta of 1.28. The firm has a fifty day moving average of $181.14 and a 200 day moving average of $170.49.

Institutional Investors Weigh In On First Trust US Equity Opportunities ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FPX. Bank of America Corp DE lifted its stake in shares of First Trust US Equity Opportunities ETF by 43.3% in the 1st quarter. Bank of America Corp DE now owns 204,237 shares of the company’s stock valued at $32,435,000 after purchasing an additional 61,752 shares during the period. Arkadios Wealth Advisors grew its position in First Trust US Equity Opportunities ETF by 27.0% during the first quarter. Arkadios Wealth Advisors now owns 1,926 shares of the company’s stock valued at $306,000 after buying an additional 410 shares during the period. Royal Bank of Canada increased its holdings in First Trust US Equity Opportunities ETF by 57.7% in the first quarter. Royal Bank of Canada now owns 112,977 shares of the company’s stock valued at $17,941,000 after buying an additional 41,319 shares in the last quarter. Gateway Wealth Partners LLC increased its holdings in First Trust US Equity Opportunities ETF by 117.8% in the first quarter. Gateway Wealth Partners LLC now owns 16,803 shares of the company’s stock valued at $2,668,000 after buying an additional 9,089 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of First Trust US Equity Opportunities ETF by 3.6% in the first quarter. Cetera Investment Advisers now owns 86,687 shares of the company’s stock worth $13,767,000 after acquiring an additional 3,024 shares during the period.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.