First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Trading 0.5% Higher – Should You Buy?

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) rose 0.5% during mid-day trading on Friday . The stock traded as high as $29.03 and last traded at $28.91. 386,724 shares were traded during mid-day trading, a decline of 50% from the average session volume of 769,493 shares. The stock had previously closed at $28.77.

First Trust Global Tactical Commodity Strategy Fund Stock Performance

The stock has a 50-day moving average of $28.22 and a 200-day moving average of $27.77.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1691 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.68 annualized dividend and a dividend yield of 2.3%.

Hedge Funds Weigh In On First Trust Global Tactical Commodity Strategy Fund

Several institutional investors have recently modified their holdings of FTGC. Focus Financial Network Inc. lifted its position in First Trust Global Tactical Commodity Strategy Fund by 18.9% in the 2nd quarter. Focus Financial Network Inc. now owns 36,073 shares of the company’s stock valued at $976,000 after purchasing an additional 5,728 shares during the last quarter. White Wing Wealth Management acquired a new position in First Trust Global Tactical Commodity Strategy Fund during the 2nd quarter valued at about $249,000. TrueWealth Advisors LLC grew its position in First Trust Global Tactical Commodity Strategy Fund by 16.1% in the 2nd quarter. TrueWealth Advisors LLC now owns 43,558 shares of the company’s stock worth $1,178,000 after purchasing an additional 6,036 shares during the last quarter. Puff Wealth Management LLC bought a new position in First Trust Global Tactical Commodity Strategy Fund in the 2nd quarter worth about $554,000. Finally, Cooper Financial Group acquired a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter valued at approximately $10,454,000.

First Trust Global Tactical Commodity Strategy Fund Company Profile

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.