First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Shares Up 1% – Time to Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX)’s share price shot up 1% during trading on Tuesday . The company traded as high as $183.26 and last traded at $182.77. 16,941 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 37,652 shares. The stock had previously closed at $180.99.

First Trust US Equity Opportunities ETF Stock Performance

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 32.81 and a beta of 1.28. The company has a 50 day moving average price of $182.18 and a two-hundred day moving average price of $181.85.

Institutional Investors Weigh In On First Trust US Equity Opportunities ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in First Trust US Equity Opportunities ETF during the second quarter valued at $83,000. Baird Financial Group Inc. increased its stake in shares of First Trust US Equity Opportunities ETF by 34.0% during the second quarter. Baird Financial Group Inc. now owns 10,903 shares of the company’s stock worth $2,248,000 after purchasing an additional 2,768 shares in the last quarter. Corient Private Wealth LP increased its stake in First Trust US Equity Opportunities ETF by 12.6% during the 2nd quarter. Corient Private Wealth LP now owns 2,753 shares of the company’s stock worth $567,000 after buying an additional 307 shares in the last quarter. Montgomery Financial Services LLC purchased a new stake in First Trust US Equity Opportunities ETF during the 2nd quarter worth approximately $29,000. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of First Trust US Equity Opportunities ETF by 10.3% during the second quarter. Concurrent Investment Advisors LLC now owns 6,466 shares of the company’s stock valued at $1,333,000 after acquiring an additional 606 shares during the last quarter.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.