First Trust Water ETF (NYSEARCA:FIW) Sees Large Volume Increase – Time to Buy?

First Trust Water ETF (NYSEARCA:FIW) saw unusually-high trading volume on Monday . Approximately 124,756 shares changed hands during mid-day trading, an increase of 113% from the previous session’s volume of 58,610 shares.The stock last traded at $108.88 and had previously closed at $109.00.

First Trust Water ETF Stock Performance

The company’s fifty day moving average is $105.20 and its two-hundred day moving average is $108.26. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99.

Institutional Investors Weigh In On First Trust Water ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its stake in shares of First Trust Water ETF by 64.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 249 shares of the company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in First Trust Water ETF in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. purchased a new position in First Trust Water ETF in the 4th quarter worth approximately $32,000. Assetmark Inc. grew its position in First Trust Water ETF by 88.0% in the first quarter. Assetmark Inc. now owns 344 shares of the company’s stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. Finally, CX Institutional acquired a new stake in First Trust Water ETF in the second quarter valued at approximately $37,000.

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. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.