First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD) Reaches New 1-Year High – Time to Buy?

First Trust Dow Jones Global Select Dividend Index Fund (NYSEARCA:FGD) reached a new 52-week high during trading on Monday . The stock traded as high as $35.44 and last traded at $35.30, with a volume of 800 shares changing hands. The stock had previously closed at $35.42.

First Trust Dow Jones Global Select Dividend Index Fund Price Performance

The firm’s fifty day moving average is $33.61 and its 200-day moving average is $33.16. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.79 and a beta of 0.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of First Trust Dow Jones Global Select Dividend Index Fund by 10.1% during the fourth quarter. LPL Financial LLC now owns 3,336,298 shares of the company’s stock valued at $100,990,000 after purchasing an additional 305,440 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Trust Dow Jones Global Select Dividend Index Fund by 18.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,671,359 shares of the company’s stock valued at $80,862,000 after purchasing an additional 423,527 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of First Trust Dow Jones Global Select Dividend Index Fund by 48.9% in the second quarter. Ameriprise Financial Inc. now owns 1,807,702 shares of the company’s stock worth $49,794,000 after acquiring an additional 593,342 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of First Trust Dow Jones Global Select Dividend Index Fund by 428.3% during the second quarter. Raymond James Financial Inc. now owns 1,163,034 shares of the company’s stock valued at $32,030,000 after acquiring an additional 942,903 shares during the period. Finally, Bank of America Corp DE boosted its stake in First Trust Dow Jones Global Select Dividend Index Fund by 68.3% in the 1st quarter. Bank of America Corp DE now owns 1,147,241 shares of the company’s stock worth $36,631,000 after purchasing an additional 465,775 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.