First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 1-Year High – Should You Buy?

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) reached a new 52-week high on Wednesday . The stock traded as high as $294.35 and last traded at $293.6910, with a volume of 771 shares traded. The stock had previously closed at $288.08.

First Trust Dow Jones Internet Index Fund Trading Up 1.0%

The firm has a 50-day moving average of $270.13 and a 200 day moving average of $258.26. The company has a market cap of $5.49 billion, a P/E ratio of 32.59 and a beta of 1.22.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of First Trust Dow Jones Internet Index Fund by 10,327.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 969,394 shares of the company’s stock worth $260,941,000 after buying an additional 960,097 shares during the period. UBS Group AG lifted its position in shares of First Trust Dow Jones Internet Index Fund by 21.7% during the 3rd quarter. UBS Group AG now owns 879,200 shares of the company’s stock valued at $246,035,000 after acquiring an additional 156,607 shares during the period. Earned Wealth Advisors LLC acquired a new position in shares of First Trust Dow Jones Internet Index Fund during the 4th quarter valued at $23,822,000. 360 Financial Inc. bought a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter worth $14,856,000. Finally, Marshall Wace LLP bought a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter worth $14,354,000. 70.10% of the stock is currently owned by institutional investors.

About First Trust Dow Jones Internet Index Fund

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.