First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Sees Large Volume Increase – Should You Buy?

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) saw unusually-strong trading volume on Friday . Approximately 727,681 shares traded hands during trading, an increase of 153% from the previous session’s volume of 287,452 shares.The stock last traded at $243.17 and had previously closed at $246.93.

First Trust Dow Jones Internet Index Fund Stock Down 1.6 %

The business has a fifty day moving average of $244.06 and a 200 day moving average of $218.74. The firm has a market cap of $7.27 billion, a P/E ratio of 36.60 and a beta of 1.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FDN. International Assets Investment Management LLC lifted its position in First Trust Dow Jones Internet Index Fund by 21,573.3% during the third quarter. International Assets Investment Management LLC now owns 890,555 shares of the company’s stock worth $188,646,000 after acquiring an additional 886,446 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in First Trust Dow Jones Internet Index Fund during the 2nd quarter worth approximately $22,580,000. Benjamin Edwards Inc. lifted its holdings in First Trust Dow Jones Internet Index Fund by 6,655.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 93,432 shares of the company’s stock worth $19,792,000 after purchasing an additional 92,049 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in First Trust Dow Jones Internet Index Fund by 2,224.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 39,346 shares of the company’s stock valued at $8,335,000 after purchasing an additional 37,653 shares during the period. Finally, Insight Wealth Strategies LLC acquired a new position in First Trust Dow Jones Internet Index Fund in the 4th quarter valued at $8,446,000.

First Trust Dow Jones Internet Index Fund Company Profile

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.