First Trust Water ETF (NYSEARCA:FIW) Reaches New 52-Week High – Still a Buy?

First Trust Water ETF (NYSEARCA:FIW)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $110.44 and last traded at $110.20, with a volume of 13337 shares changing hands. The stock had previously closed at $109.48.

First Trust Water ETF Stock Performance

The company has a market cap of $1.77 billion, a P/E ratio of 33.23 and a beta of 0.99. The stock’s fifty day moving average price is $106.39 and its two-hundred day moving average price is $103.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its holdings in shares of First Trust Water ETF by 9.5% during the 2nd quarter. LPL Financial LLC now owns 694,618 shares of the company’s stock valued at $69,448,000 after purchasing an additional 59,991 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of First Trust Water ETF by 3.1% during the second quarter. Commonwealth Equity Services LLC now owns 312,016 shares of the company’s stock worth $31,195,000 after buying an additional 9,250 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of First Trust Water ETF in the 1st quarter valued at $26,891,000. Envestnet Asset Management Inc. boosted its holdings in shares of First Trust Water ETF by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 186,040 shares of the company’s stock valued at $18,600,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in First Trust Water ETF by 68.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 140,524 shares of the company’s stock worth $14,050,000 after acquiring an additional 57,253 shares during the last quarter.

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.