First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Sets New 52-Week High – Should You Buy?

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) shares reached a new 52-week high on Tuesday. The company traded as high as $42.00 and last traded at $41.9610, with a volume of 112,370 shares trading hands. The stock had previously closed at $41.12.

First Trust Nasdaq Oil & Gas ETF Stock Performance

The company has a market cap of $1.15 billion, a P/E ratio of 11.81 and a beta of 0.58. The firm’s fifty day moving average is $39.56 and its two-hundred day moving average is $37.33.

First Trust Nasdaq Oil & Gas ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a dividend of $0.2445 per share. This is a boost from First Trust Nasdaq Oil & Gas ETF’s previous quarterly dividend of $0.1168. This represents a $0.98 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 24th.

Hedge Funds Weigh In On First Trust Nasdaq Oil & Gas ETF

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in shares of First Trust Nasdaq Oil & Gas ETF by 27.5% in the second quarter. Envestnet Asset Management Inc. now owns 75,224 shares of the company’s stock worth $2,515,000 after acquiring an additional 16,211 shares during the period. Citadel Advisors LLC grew its position in shares of First Trust Nasdaq Oil & Gas ETF by 405.7% during the second quarter. Citadel Advisors LLC now owns 63,049 shares of the company’s stock worth $2,108,000 after purchasing an additional 50,582 shares in the last quarter. Tudor Financial Inc. bought a new stake in First Trust Nasdaq Oil & Gas ETF during the 2nd quarter valued at approximately $860,000. Kestra Advisory Services LLC raised its stake in First Trust Nasdaq Oil & Gas ETF by 8.7% during the 1st quarter. Kestra Advisory Services LLC now owns 25,369 shares of the company’s stock valued at $979,000 after purchasing an additional 2,030 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in First Trust Nasdaq Oil & Gas ETF by 65.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,367 shares of the company’s stock valued at $748,000 after purchasing an additional 7,668 shares during the period.

First Trust Nasdaq Oil & Gas ETF Company Profile

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.