First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sees Strong Trading Volume – Should You Buy?

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) saw an uptick in trading volume on Tuesday . 380,568 shares traded hands during trading, an increase of 57% from the previous session’s volume of 241,641 shares.The stock last traded at $38.58 and had previously closed at $38.59.

First Trust Nasdaq Pharmaceuticals ETF Trading Up 0.3%

The company has a market capitalization of $869.26 million, a P/E ratio of 14.51 and a beta of 0.45. The company’s fifty day moving average is $37.21 and its 200 day moving average is $35.29.

First Trust Nasdaq Pharmaceuticals ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a $0.092 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.06. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.0%.

Institutional Trading of First Trust Nasdaq Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vivaldi Capital Management LP boosted its stake in First Trust Nasdaq Pharmaceuticals ETF by 16.0% in the 1st quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock worth $433,000 after purchasing an additional 1,741 shares during the period. OLD Mission Capital LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the fourth quarter valued at approximately $528,000. Kestra Advisory Services LLC purchased a new position in First Trust Nasdaq Pharmaceuticals ETF during the fourth quarter valued at approximately $59,000. Commonwealth Equity Services LLC bought a new stake in First Trust Nasdaq Pharmaceuticals ETF during the 4th quarter worth approximately $237,000. Finally, LPL Financial LLC lifted its stake in First Trust Nasdaq Pharmaceuticals ETF by 40.5% in the 4th quarter. LPL Financial LLC now owns 146,105 shares of the company’s stock worth $4,813,000 after purchasing an additional 42,147 shares in the last quarter.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.