First Trust Growth Strength ETF (NASDAQ:FTGS) Hits New 52-Week High – Time to Buy?

Shares of First Trust Growth Strength ETF (NASDAQ:FTGS) hit a new 52-week high during trading on Monday . The stock traded as high as $39.87 and last traded at $39.82, with a volume of 1405 shares. The stock had previously closed at $39.44.

First Trust Growth Strength ETF Stock Performance

The firm’s fifty day simple moving average is $37.59 and its 200 day simple moving average is $36.33. The firm has a market cap of $1.35 billion, a P/E ratio of 23.90 and a beta of 1.01.

Institutional Investors Weigh In On First Trust Growth Strength ETF

A number of hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its position in shares of First Trust Growth Strength ETF by 58.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after buying an additional 385 shares during the last quarter. WPG Advisers LLC boosted its position in First Trust Growth Strength ETF by 3.4% during the fourth quarter. WPG Advisers LLC now owns 14,467 shares of the company’s stock worth $511,000 after acquiring an additional 469 shares during the last quarter. Ameriflex Group Inc. boosted its position in First Trust Growth Strength ETF by 78.8% during the fourth quarter. Ameriflex Group Inc. now owns 1,162 shares of the company’s stock worth $41,000 after acquiring an additional 512 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in First Trust Growth Strength ETF by 2.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 22,480 shares of the company’s stock worth $765,000 after acquiring an additional 544 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in First Trust Growth Strength ETF by 100.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock worth $40,000 after acquiring an additional 557 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. FTGS was launched on Oct 25, 2022 and is managed by First Trust.