First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Shares Up 2.2% – Here’s Why

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price shot up 2.2% on Monday . The stock traded as high as $266.17 and last traded at $264.17. 286,876 shares were traded during trading, a decline of 49% from the average daily volume of 557,449 shares. The stock had previously closed at $258.43.

First Trust Dow Jones Internet Index Fund Stock Up 2.2%

The business has a 50-day moving average price of $267.88 and a 200-day moving average price of $258.07. The firm has a market capitalization of $5.27 billion, a P/E ratio of 32.59 and a beta of 1.22.

Institutional Investors Weigh In On First Trust Dow Jones Internet Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. DAVENPORT & Co LLC raised its stake in shares of First Trust Dow Jones Internet Index Fund by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 5,561 shares of the company’s stock valued at $1,497,000 after buying an additional 42 shares in the last quarter. Flaharty Asset Management LLC boosted its position in shares of First Trust Dow Jones Internet Index Fund by 0.6% during the 4th quarter. Flaharty Asset Management LLC now owns 7,537 shares of the company’s stock valued at $2,029,000 after acquiring an additional 42 shares in the last quarter. Petix & Botte Co increased its stake in First Trust Dow Jones Internet Index Fund by 4.1% in the first quarter. Petix & Botte Co now owns 1,284 shares of the company’s stock valued at $300,000 after acquiring an additional 50 shares during the period. Sowell Financial Services LLC increased its stake in First Trust Dow Jones Internet Index Fund by 0.6% in the fourth quarter. Sowell Financial Services LLC now owns 9,240 shares of the company’s stock valued at $2,487,000 after acquiring an additional 57 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its position in First Trust Dow Jones Internet Index Fund by 4.3% in the second quarter. FSB Premier Wealth Management Inc. now owns 1,392 shares of the company’s stock worth $375,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

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.