First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Trading 1.6% Higher – What’s Next?

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) shares traded up 1.6% during mid-day trading on Wednesday . The stock traded as high as $22.86 and last traded at $22.78. 17,047 shares changed hands during trading, a decline of 18% from the average session volume of 20,829 shares. The stock had previously closed at $22.43.

First Trust Nasdaq Food & Beverage ETF Stock Performance

The firm’s 50 day simple moving average is $22.22 and its 200-day simple moving average is $22.14. The company has a market cap of $17.14 million, a price-to-earnings ratio of 15.14 and a beta of 0.39.

First Trust Nasdaq Food & Beverage ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a dividend of $0.0893 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC purchased a new stake in First Trust Nasdaq Food & Beverage ETF in the 1st quarter valued at about $25,000. Miller Global Investments LLC purchased a new stake in First Trust Nasdaq Food & Beverage ETF in the 4th quarter valued at about $36,000. Royal Bank of Canada raised its holdings in First Trust Nasdaq Food & Beverage ETF by 348.0% in the 4th quarter. Royal Bank of Canada now owns 5,430 shares of the company’s stock valued at $114,000 after buying an additional 4,218 shares during the period. Osaic Holdings Inc. raised its holdings in First Trust Nasdaq Food & Beverage ETF by 31.2% in the 4th quarter. Osaic Holdings Inc. now owns 6,344 shares of the company’s stock valued at $133,000 after buying an additional 1,508 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in First Trust Nasdaq Food & Beverage ETF in the 2nd quarter valued at about $147,000.

First Trust Nasdaq Food & Beverage ETF Company Profile

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.