First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) Hits New 52-Week High – Still a Buy?

First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $250.00 and last traded at $249.79, with a volume of 97055 shares changing hands. The stock had previously closed at $241.37.

First Trust Nasdaq Semiconductor ETF Stock Up 3.4%

The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 28.27 and a beta of 1.69. The company has a 50 day moving average of $186.68 and a 200 day moving average of $155.98.

First Trust Nasdaq Semiconductor ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a dividend of $0.0131 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.05 annualized dividend and a yield of 0.0%.

Institutional Investors Weigh In On First Trust Nasdaq Semiconductor ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTXL. Ameriprise Financial Inc. acquired a new stake in First Trust Nasdaq Semiconductor ETF during the second quarter worth about $245,000. Geneos Wealth Management Inc. grew its stake in shares of First Trust Nasdaq Semiconductor ETF by 123.4% in the second quarter. Geneos Wealth Management Inc. now owns 3,362 shares of the company’s stock valued at $323,000 after buying an additional 1,857 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of First Trust Nasdaq Semiconductor ETF in the second quarter valued at about $243,000. Outlook Wealth Advisors LLC grew its stake in shares of First Trust Nasdaq Semiconductor ETF by 0.7% in the third quarter. Outlook Wealth Advisors LLC now owns 21,036 shares of the company’s stock valued at $2,353,000 after buying an additional 153 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of First Trust Nasdaq Semiconductor ETF in the third quarter valued at about $284,000.

About First Trust Nasdaq Semiconductor ETF

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