First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sets New 1-Year High – Here’s Why

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) shares hit a new 52-week high on Wednesday. The stock traded as high as $43.52 and last traded at $41.4350, with a volume of 18403 shares trading hands. The stock had previously closed at $41.77.

First Trust Nasdaq Pharmaceuticals ETF Stock Down 1.6%

The company has a market capitalization of $1.06 billion, a P/E ratio of 14.51 and a beta of 0.46. The company’s 50-day simple moving average is $40.81 and its 200 day simple moving average is $37.28.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a $0.0113 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, September 24th. This is a drop from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920.

Hedge Funds Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Institutional investors have recently bought and sold shares of the stock. Nilsine Partners LLC boosted its stake in shares of First Trust Nasdaq Pharmaceuticals ETF by 3.5% during the 2nd quarter. Nilsine Partners LLC now owns 28,057 shares of the company’s stock worth $1,071,000 after acquiring an additional 937 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of First Trust Nasdaq Pharmaceuticals ETF by 16.0% during the 1st quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock valued at $433,000 after acquiring an additional 1,741 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the 2nd quarter valued at approximately $29,000.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.