First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Hits New 1-Year High – Time to Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX)’s share price reached a new 52-week high on Monday . The company traded as high as $202.95 and last traded at $202.41, with a volume of 9987 shares. The stock had previously closed at $200.41.

First Trust US Equity Opportunities ETF Trading Up 0.9%

The firm’s 50-day moving average price is $185.79 and its 200-day moving average price is $172.40. The stock has a market capitalization of $1.49 billion, a PE ratio of 32.81 and a beta of 1.28.

Institutional Investors Weigh In On First Trust US Equity Opportunities ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Trust US Equity Opportunities ETF by 5,572.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 382,823 shares of the company’s stock worth $62,626,000 after purchasing an additional 376,074 shares during the period. Wells Fargo & Company MN raised its holdings in First Trust US Equity Opportunities ETF by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 340,788 shares of the company’s stock valued at $55,750,000 after buying an additional 11,677 shares during the period. Bank of America Corp DE raised its holdings in First Trust US Equity Opportunities ETF by 43.3% during the 1st quarter. Bank of America Corp DE now owns 204,237 shares of the company’s stock valued at $32,435,000 after buying an additional 61,752 shares during the period. Raymond James Financial Inc. lifted its position in First Trust US Equity Opportunities ETF by 7.7% in the third quarter. Raymond James Financial Inc. now owns 156,672 shares of the company’s stock worth $26,033,000 after buying an additional 11,169 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in First Trust US Equity Opportunities ETF by 57.7% in the first quarter. Royal Bank of Canada now owns 112,977 shares of the company’s stock worth $17,941,000 after buying an additional 41,319 shares during the last quarter.

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.