First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Sees Strong Trading Volume – Time to Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) shares saw unusually-high trading volume on Friday . Approximately 1,250,313 shares were traded during mid-day trading, an increase of 225% from the previous session’s volume of 384,700 shares.The stock last traded at $241.99 and had previously closed at $241.57.

First Trust Dow Jones Internet Index Fund Price Performance

The stock has a 50-day moving average price of $223.45 and a 200 day moving average price of $208.06. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47.

Institutional Trading of First Trust Dow Jones Internet Index Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in FDN. Morse Asset Management Inc acquired a new stake in shares of First Trust Dow Jones Internet Index Fund during the third quarter worth about $33,000. Carmichael Hill & Associates Inc. increased its position in shares of First Trust Dow Jones Internet Index Fund by 149.3% during the third quarter. Carmichael Hill & Associates Inc. now owns 167 shares of the company’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Private Trust Co. NA increased its position in shares of First Trust Dow Jones Internet Index Fund by 28.0% during the third quarter. Private Trust Co. NA now owns 215 shares of the company’s stock worth $46,000 after purchasing an additional 47 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of First Trust Dow Jones Internet Index Fund during the third quarter worth about $49,000. Finally, Activest Wealth Management grew its holdings in shares of First Trust Dow Jones Internet Index Fund by 132.1% during the third quarter. Activest Wealth Management now owns 246 shares of the company’s stock worth $52,000 after buying an additional 140 shares during the last quarter.

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.