First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Unusually-High Trading Volume – Still a Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw strong trading volume on Friday . 401,394 shares traded hands during mid-day trading, an increase of 155% from the previous session’s volume of 157,567 shares.The stock last traded at $21.24 and had previously closed at $21.25.

First Trust NASDAQ BuyWrite Income ETF Price Performance

The company has a fifty day moving average of $21.08 and a two-hundred day moving average of $20.58. The stock has a market capitalization of $570.03 million, a price-to-earnings ratio of 29.15 and a beta of 0.52.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd will be given a $0.207 dividend. This is a boost from First Trust NASDAQ BuyWrite Income ETF’s previous dividend of $0.20. The ex-dividend date is Wednesday, January 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Securities Inc. increased its position in First Trust NASDAQ BuyWrite Income ETF by 113.7% during the fourth quarter. Fifth Third Securities Inc. now owns 442,506 shares of the company’s stock worth $9,213,000 after purchasing an additional 235,437 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 8.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 647,285 shares of the company’s stock worth $13,256,000 after buying an additional 52,767 shares during the last quarter. International Assets Investment Management LLC acquired a new position in First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at $949,000. Stifel Financial Corp grew its position in First Trust NASDAQ BuyWrite Income ETF by 89.6% during the third quarter. Stifel Financial Corp now owns 79,969 shares of the company’s stock valued at $1,638,000 after acquiring an additional 37,786 shares during the period. Finally, Ameritas Advisory Services LLC increased its stake in First Trust NASDAQ BuyWrite Income ETF by 16.6% during the third quarter. Ameritas Advisory Services LLC now owns 254,319 shares of the company’s stock worth $5,208,000 after acquiring an additional 36,261 shares during the last quarter.

First Trust NASDAQ BuyWrite Income ETF Company Profile

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.