First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Sees Strong Trading Volume – Here’s Why

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) shares saw unusually-high trading volume on Wednesday. 573,068 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 296,057 shares. The stock last traded at $41.3040 and had previously closed at $41.85.

First Trust Nasdaq Transportation ETF Stock Performance

The stock has a fifty day simple moving average of $43.34 and a two-hundred day simple moving average of $42.90. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.80 and a beta of 1.31.

First Trust Nasdaq Transportation ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.1191 per share. This is a decrease from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.1268. This represents a $0.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 24th.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP bought a new stake in shares of First Trust Nasdaq Transportation ETF in the 1st quarter valued at $669,272,000. Nilsine Partners LLC grew its holdings in First Trust Nasdaq Transportation ETF by 2.6% in the second quarter. Nilsine Partners LLC now owns 465,155 shares of the company’s stock worth $21,198,000 after purchasing an additional 11,794 shares during the period. NewEdge Advisors LLC increased its stake in First Trust Nasdaq Transportation ETF by 6.6% in the second quarter. NewEdge Advisors LLC now owns 408,346 shares of the company’s stock valued at $18,609,000 after purchasing an additional 25,341 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of First Trust Nasdaq Transportation ETF by 5,525.7% during the first quarter. Royal Bank of Canada now owns 148,125 shares of the company’s stock valued at $5,645,000 after purchasing an additional 145,492 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of First Trust Nasdaq Transportation ETF by 35.6% during the second quarter. Envestnet Asset Management Inc. now owns 53,207 shares of the company’s stock valued at $2,425,000 after purchasing an additional 13,970 shares during the period.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.