First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Hits New 52-Week High – Here’s Why

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) shares hit a new 52-week high on Friday . The company traded as high as $22.38 and last traded at $22.38, with a volume of 96558 shares trading hands. The stock had previously closed at $22.34.

First Trust NASDAQ BuyWrite Income ETF Price Performance

The firm’s 50 day simple moving average is $21.97 and its 200-day simple moving average is $21.24. The company has a market cap of $937.02 million, a price-to-earnings ratio of 32.31 and a beta of 0.63.

First Trust NASDAQ BuyWrite Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 21st were issued a $0.222 dividend. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend was Tuesday, July 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC increased its position in First Trust NASDAQ BuyWrite Income ETF by 11.1% during the second quarter. Key Client Fiduciary Advisors LLC now owns 19,170 shares of the company’s stock worth $423,000 after buying an additional 1,919 shares during the period. Tactive Advisors LLC boosted its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 3.8% in the second quarter. Tactive Advisors LLC now owns 26,055 shares of the company’s stock valued at $576,000 after acquiring an additional 961 shares during the period. TrueWealth Advisors LLC purchased a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the second quarter worth approximately $267,000. Western Wealth Management LLC grew its position in shares of First Trust NASDAQ BuyWrite Income ETF by 5.7% during the first quarter. Western Wealth Management LLC now owns 14,183 shares of the company’s stock worth $283,000 after acquiring an additional 771 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 10.2% in the 1st quarter. NewEdge Advisors LLC now owns 58,172 shares of the company’s stock valued at $1,159,000 after acquiring an additional 5,368 shares during the period.

First Trust NASDAQ BuyWrite Income ETF Company Profile

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.