First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Strong Trading Volume – Should You Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) shares saw unusually-strong trading volume on Friday . Approximately 1,132,486 shares changed hands during trading, an increase of 360% from the previous session’s volume of 246,054 shares.The stock last traded at $20.5610 and had previously closed at $20.44.

First Trust NASDAQ BuyWrite Income ETF Trading Down 0.1%

The stock has a market capitalization of $767.79 million, a P/E ratio of 32.31 and a beta of 0.59. The firm’s fifty day moving average is $20.87 and its 200-day moving average is $20.63.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were issued a $0.207 dividend. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend was Wednesday, January 21st. This is an increase from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.21.

Institutional Investors Weigh In On First Trust NASDAQ BuyWrite Income ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Securities Inc. raised its position in shares of First Trust NASDAQ BuyWrite Income ETF by 6.6% during the third quarter. Fifth Third Securities Inc. now owns 595,389 shares of the company’s stock worth $12,265,000 after acquiring an additional 36,979 shares during the last quarter. Western Wealth Management LLC acquired a new stake in First Trust NASDAQ BuyWrite Income ETF in the second quarter worth about $244,000. B. Riley Wealth Advisors Inc. bought a new stake in First Trust NASDAQ BuyWrite Income ETF during the 2nd quarter worth about $1,213,000. Private Trust Co. NA raised its holdings in First Trust NASDAQ BuyWrite Income ETF by 10.2% during the 2nd quarter. Private Trust Co. NA now owns 45,779 shares of the company’s stock worth $895,000 after purchasing an additional 4,221 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in First Trust NASDAQ BuyWrite Income ETF by 2.5% during the 2nd quarter. Avantax Advisory Services Inc. now owns 105,493 shares of the company’s stock valued at $2,063,000 after purchasing an additional 2,529 shares during the period.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.