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

Shares of First Trust Growth Strength ETF (NASDAQ:FTGS) saw strong trading volume on Wednesday . Approximately 403,044 shares were traded during mid-day trading, an increase of 209% from the previous session’s volume of 130,264 shares.The stock last traded at $38.2850 and had previously closed at $38.50.

First Trust Growth Strength ETF Stock Down 0.6%

The firm has a 50 day moving average of $38.66 and a two-hundred day moving average of $37.04. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 23.90 and a beta of 1.01.

Hedge Funds Weigh In On First Trust Growth Strength ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in First Trust Growth Strength ETF by 0.8% in the second quarter. NewEdge Advisors LLC now owns 253,115 shares of the company’s stock valued at $9,366,000 after buying an additional 1,934 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of First Trust Growth Strength ETF by 5.3% in the 2nd quarter. IFP Advisors Inc now owns 107,625 shares of the company’s stock valued at $3,982,000 after acquiring an additional 5,409 shares during the last quarter. Baird Financial Group Inc. grew its position in First Trust Growth Strength ETF by 5.4% during the 2nd quarter. Baird Financial Group Inc. now owns 200,590 shares of the company’s stock worth $7,422,000 after acquiring an additional 10,307 shares during the last quarter. Tucker Asset Management LLC grew its position in First Trust Growth Strength ETF by 29.9% during the 2nd quarter. Tucker Asset Management LLC now owns 8,385 shares of the company’s stock worth $310,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in First Trust Growth Strength ETF in the 2nd quarter worth about $928,000.

First Trust Growth Strength ETF Company Profile

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.