First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Unusually-High Trading Volume – Still a Buy?

First Trust Growth Strength ETF (NASDAQ:FTGS) shares saw unusually-strong trading volume on Thursday . Approximately 595,259 shares were traded during trading, an increase of 210% from the previous session’s volume of 192,321 shares.The stock last traded at $34.7850 and had previously closed at $35.23.

First Trust Growth Strength ETF Trading Down 0.8%

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 23.90 and a beta of 1.12. The firm has a 50 day moving average price of $35.89 and a 200-day moving average price of $34.25.

First Trust Growth Strength ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were paid a $0.0242 dividend. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 25th. This is a positive change from First Trust Growth Strength ETF’s previous quarterly dividend of $0.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FTGS. LPL Financial LLC grew its holdings in shares of First Trust Growth Strength ETF by 14.5% during the 1st quarter. LPL Financial LLC now owns 4,364,579 shares of the company’s stock worth $129,846,000 after purchasing an additional 551,873 shares during the period. CWM LLC boosted its holdings in First Trust Growth Strength ETF by 1.6% in the 3rd quarter. CWM LLC now owns 1,308,488 shares of the company’s stock worth $46,988,000 after acquiring an additional 20,197 shares during the period. Envestnet Asset Management Inc. boosted its holdings in First Trust Growth Strength ETF by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,249,526 shares of the company’s stock worth $42,721,000 after acquiring an additional 20,912 shares during the period. Cetera Investment Advisers boosted its holdings in First Trust Growth Strength ETF by 9.7% in the 2nd quarter. Cetera Investment Advisers now owns 1,238,254 shares of the company’s stock worth $42,336,000 after acquiring an additional 109,655 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in First Trust Growth Strength ETF by 21.1% in the 1st quarter. Raymond James Financial Inc. now owns 1,192,210 shares of the company’s stock worth $35,468,000 after acquiring an additional 208,037 shares during the period.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities.