First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $269.72 and traded as high as $273.78. First Trust Dow Jones Internet Index Fund shares last traded at $267.77, with a volume of 563,254 shares changing hands.

First Trust Dow Jones Internet Index Fund Trading Up 2.6%

The firm has a market cap of $5.07 billion, a PE ratio of 32.59 and a beta of 1.22. The company has a 50 day moving average price of $269.64 and a 200 day moving average price of $257.94.

Institutional Trading of First Trust Dow Jones Internet Index Fund

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of First Trust Dow Jones Internet Index Fund by 10,327.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 969,394 shares of the company’s stock valued at $260,941,000 after buying an additional 960,097 shares in the last quarter. UBS Group AG grew its stake in First Trust Dow Jones Internet Index Fund by 21.7% in the 3rd quarter. UBS Group AG now owns 879,200 shares of the company’s stock valued at $246,035,000 after acquiring an additional 156,607 shares during the last quarter. LPL Financial LLC grew its stake in First Trust Dow Jones Internet Index Fund by 5.6% in the 4th quarter. LPL Financial LLC now owns 839,143 shares of the company’s stock valued at $225,881,000 after acquiring an additional 44,692 shares during the last quarter. Bank of America Corp DE increased its holdings in First Trust Dow Jones Internet Index Fund by 3.0% during the 3rd quarter. Bank of America Corp DE now owns 719,528 shares of the company’s stock valued at $201,353,000 after acquiring an additional 21,083 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in First Trust Dow Jones Internet Index Fund by 5.4% during the 3rd quarter. Two Sigma Investments LP now owns 577,600 shares of the company’s stock valued at $161,636,000 after acquiring an additional 29,500 shares in the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

About First Trust Dow Jones Internet Index Fund

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.