First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Shares Break Below 200-Day Moving Average – Here’s What Happened

Shares of First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $21.49 and traded as low as $21.10. First Trust NASDAQ BuyWrite Income ETF shares last traded at $21.30, with a volume of 756,713 shares.

First Trust NASDAQ BuyWrite Income ETF Trading Down 1.0%

The company has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $21.49. The stock has a market cap of $985.12 million, a price-to-earnings ratio of 26.41 and a beta of 0.67.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, October 21st were given a dividend of $0.2210 per share. This is a decrease from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.2220. This represents a $2.65 annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend was Wednesday, October 21st.

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 FTQI. SBI Securities Co. Ltd. lifted its stake in First Trust NASDAQ BuyWrite Income ETF by 183.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,334 shares of the company’s stock valued at $30,000 after acquiring an additional 863 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in First Trust NASDAQ BuyWrite Income ETF during the 3rd quarter worth approximately $33,000. Fifth Third Bancorp bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the 1st quarter worth approximately $134,000. Steward Partners Investment Advisory LLC grew its stake in shares of First Trust NASDAQ BuyWrite Income ETF by 16.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,651 shares of the company’s stock worth $147,000 after acquiring an additional 955 shares in the last quarter. Finally, WealthBridge Capital Management LLC bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the 3rd quarter worth approximately $204,000.

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.