First Trust Water ETF (NYSEARCA:FIW) Sets New 1-Year High – What’s Next?

First Trust Water ETF (NYSEARCA:FIW)’s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $118.79 and last traded at $119.1140, with a volume of 57,125 shares trading hands. The stock had previously closed at $115.03.

First Trust Water ETF Price Performance

The stock has a market capitalization of $1.94 billion, a P/E ratio of 24.17 and a beta of 0.97. The stock has a 50 day moving average price of $107.78 and a 200-day moving average price of $108.04.

Hedge Funds Weigh In On First Trust Water ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional bought a new stake in First Trust Water ETF in the second quarter valued at approximately $37,000. Assetmark Inc. lifted its position in First Trust Water ETF by 88.0% in the first quarter. Assetmark Inc. now owns 344 shares of the company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. Balance Wealth Partners LLC purchased a new stake in shares of First Trust Water ETF during the third quarter valued at approximately $36,000. Continuum Advisory LLC purchased a new stake in shares of First Trust Water ETF during the second quarter valued at approximately $106,000. Finally, Compass Financial Management LLC bought a new position in shares of First Trust Water ETF in the second quarter worth approximately $43,000.

About First Trust Water ETF

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.