First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sets New 1-Year High – Still a Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $190.94 and last traded at $190.14, with a volume of 74585 shares traded. The stock had previously closed at $187.16.

First Trust US Equity Opportunities ETF Trading Up 1.6%

The stock has a 50 day simple moving average of $169.79 and a 200 day simple moving average of $166.44. The firm has a market capitalization of $1.40 billion, a PE ratio of 32.81 and a beta of 1.27.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

Large investors have recently bought and sold shares of the stock. Reyes Financial Architecture Inc. purchased a new position in First Trust US Equity Opportunities ETF in the 3rd quarter worth approximately $28,000. Manning & Napier Advisors LLC purchased a new position in First Trust US Equity Opportunities ETF in the 3rd quarter worth approximately $29,000. Comerica Bank increased its stake in First Trust US Equity Opportunities ETF by 457.6% in the 3rd quarter. Comerica Bank now owns 184 shares of the company’s stock worth $31,000 after purchasing an additional 151 shares during the period. Fifth Third Bancorp purchased a new position in First Trust US Equity Opportunities ETF in the 1st quarter worth approximately $32,000. Finally, Ameriflex Group Inc. purchased a new position in First Trust US Equity Opportunities ETF in the 3rd quarter worth approximately $38,000.

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.