Summit Financial LLC Cuts Stock Position in First Trust Water ETF (NYSEARCA:FIW)

Summit Financial LLC trimmed its holdings in First Trust Water ETF (NYSEARCA:FIW) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,498 shares of the company’s stock after selling 1,047 shares during the period. Summit Financial LLC owned about 0.05% of First Trust Water ETF worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FIW. JPMorgan Chase & Co. increased its holdings in First Trust Water ETF by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,522 shares of the company’s stock valued at $3,774,000 after acquiring an additional 6,835 shares during the last quarter. Allworth Financial LP increased its holdings in shares of First Trust Water ETF by 48.7% in the fourth quarter. Allworth Financial LP now owns 1,139 shares of the company’s stock worth $121,000 after purchasing an additional 373 shares during the last quarter. Ipsen Advisor Group LLC purchased a new stake in shares of First Trust Water ETF in the fourth quarter worth about $1,031,000. Jane Street Group LLC boosted its stake in First Trust Water ETF by 291.6% during the third quarter. Jane Street Group LLC now owns 16,899 shares of the company’s stock valued at $1,848,000 after buying an additional 12,584 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in First Trust Water ETF by 88.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,114 shares of the company’s stock valued at $3,073,000 after buying an additional 14,162 shares in the last quarter.

First Trust Water ETF Price Performance

Shares of FIW opened at $102.02 on Thursday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 26.28 and a beta of 1.04. First Trust Water ETF has a 1 year low of $96.29 and a 1 year high of $111.64. The business’s 50 day simple moving average is $103.36 and its 200-day simple moving average is $105.61.

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.