First Trust Water ETF (NYSEARCA:FIW) Sees Strong Trading Volume – Should You Buy?

First Trust Water ETF (NYSEARCA:FIW) saw an uptick in trading volume on Wednesday . 78,567 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 55,592 shares.The stock last traded at $105.9070 and had previously closed at $106.09.

First Trust Water ETF Price Performance

The company has a market capitalization of $1.76 billion, a PE ratio of 24.17 and a beta of 0.99. The stock has a 50-day simple moving average of $109.08 and a 200 day simple moving average of $106.74.

Institutional Investors Weigh In On First Trust Water ETF

A number of institutional investors and hedge funds have recently bought and sold shares of FIW. Waverly Advisors LLC grew its holdings in First Trust Water ETF by 7.2% during the 2nd quarter. Waverly Advisors LLC now owns 28,814 shares of the company’s stock valued at $3,156,000 after buying an additional 1,941 shares during the last quarter. Carlson Financial Inc. raised its holdings in shares of First Trust Water ETF by 21.4% in the second quarter. Carlson Financial Inc. now owns 2,576 shares of the company’s stock worth $282,000 after acquiring an additional 454 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in shares of First Trust Water ETF by 42.4% in the second quarter. Ameritas Advisory Services LLC now owns 157,875 shares of the company’s stock valued at $17,290,000 after acquiring an additional 47,042 shares in the last quarter. Compass Financial Management LLC acquired a new stake in shares of First Trust Water ETF during the second quarter valued at $43,000. Finally, William John Sempolinski purchased a new stake in shares of First Trust Water ETF during the second quarter worth about $2,913,000.

About First Trust Water ETF

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.