First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 52-Week High – Here’s What Happened

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) hit a new 52-week high during trading on Friday . The company traded as high as $296.02 and last traded at $296.02, with a volume of 22383 shares traded. The stock had previously closed at $293.83.

First Trust Dow Jones Internet Index Fund Stock Performance

The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22. The business’s 50-day simple moving average is $275.31 and its 200-day simple moving average is $261.79.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 29.9% in the 1st quarter. AQR Capital Management LLC now owns 1,629 shares of the company’s stock valued at $362,000 after purchasing an additional 375 shares during the period. Russell Investments Group Ltd. grew its stake in shares of First Trust Dow Jones Internet Index Fund by 8.6% during the second quarter. Russell Investments Group Ltd. now owns 1,691 shares of the company’s stock worth $455,000 after purchasing an additional 134 shares during the period. Brown Advisory Inc. increased its holdings in First Trust Dow Jones Internet Index Fund by 35.9% in the second quarter. Brown Advisory Inc. now owns 1,716 shares of the company’s stock valued at $462,000 after purchasing an additional 453 shares during the last quarter. Quantinno Capital Management LP increased its holdings in First Trust Dow Jones Internet Index Fund by 16.1% in the second quarter. Quantinno Capital Management LP now owns 3,093 shares of the company’s stock valued at $833,000 after purchasing an additional 430 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in First Trust Dow Jones Internet Index Fund in the second quarter valued at about $195,000. 70.10% of the stock is owned by institutional investors.

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.