First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD) Shares Up 0.4% – Should You Buy?

First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD) rose 0.4% on Tuesday . The stock traded as high as $32.96 and last traded at $32.78. 145,899 shares traded hands during trading, a decline of 44% from the average daily volume of 262,380 shares. The stock had previously closed at $32.65.

First Trust Dow Jones Global Select Dividend Index Fund Trading Up 0.4%

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.79 and a beta of 0.65. The firm’s 50 day simple moving average is $33.32 and its 200-day simple moving average is $32.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FGD. Raymond James Financial Inc. lifted its position in First Trust Dow Jones Global Select Dividend Index Fund by 428.3% in the second quarter. Raymond James Financial Inc. now owns 1,163,034 shares of the company’s stock valued at $32,030,000 after purchasing an additional 942,903 shares during the period. Ameriprise Financial Inc. increased its position in First Trust Dow Jones Global Select Dividend Index Fund by 48.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,807,702 shares of the company’s stock worth $49,794,000 after purchasing an additional 593,342 shares during the period. Bank of America Corp DE raised its stake in shares of First Trust Dow Jones Global Select Dividend Index Fund by 68.3% during the 1st quarter. Bank of America Corp DE now owns 1,147,241 shares of the company’s stock worth $36,631,000 after buying an additional 465,775 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of First Trust Dow Jones Global Select Dividend Index Fund by 18.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,671,359 shares of the company’s stock worth $80,862,000 after buying an additional 423,527 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Trust Dow Jones Global Select Dividend Index Fund by 590.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 427,236 shares of the company’s stock valued at $12,932,000 after buying an additional 365,373 shares during the period.

About First Trust Dow Jones Global Select Dividend Index Fund

First Trust Dow Jones Global Select Dividend Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Global Select Dividend Index (the Index). The Index is an indicated annual dividend yield weighted index of 100 stocks selected from the developed market portion of the Dow Jones World Index, subject to certain buffers designed to limit turnover. The Index universe is defined as all component companies of the 24 developed-market country indexes in the Dow Jones Global Indexes family.