First Trust BuyWrite Income ETF (NASDAQ:FTHI) Sees Strong Trading Volume – Here’s Why

First Trust BuyWrite Income ETF (NASDAQ:FTHI) shares saw unusually-high trading volume on Friday . Approximately 2,483,759 shares traded hands during trading, an increase of 430% from the previous session’s volume of 468,472 shares.The stock last traded at $23.24 and had previously closed at $23.67.

First Trust BuyWrite Income ETF Price Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 18.59 and a beta of 0.72. The business has a fifty day moving average price of $23.52 and a 200 day moving average price of $23.24.

First Trust BuyWrite Income ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were paid a $0.174 dividend. This is a positive change from First Trust BuyWrite Income ETF’s previous dividend of $0.17. The ex-dividend date of this dividend was Wednesday, January 22nd.

Institutional Investors Weigh In On First Trust BuyWrite Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTHI. Raymond James & Associates boosted its stake in First Trust BuyWrite Income ETF by 3.1% during the 3rd quarter. Raymond James & Associates now owns 518,793 shares of the company’s stock valued at $11,943,000 after purchasing an additional 15,757 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of First Trust BuyWrite Income ETF by 3.6% in the third quarter. Private Advisor Group LLC now owns 28,654 shares of the company’s stock valued at $660,000 after buying an additional 985 shares during the period. American Institute for Advanced Investment Management LLP boosted its stake in First Trust BuyWrite Income ETF by 6.8% during the third quarter. American Institute for Advanced Investment Management LLP now owns 55,410 shares of the company’s stock valued at $1,276,000 after buying an additional 3,535 shares in the last quarter. Merkkuri Wealth Advisors LLC grew its holdings in First Trust BuyWrite Income ETF by 21.0% during the third quarter. Merkkuri Wealth Advisors LLC now owns 91,803 shares of the company’s stock worth $2,113,000 after acquiring an additional 15,918 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in First Trust BuyWrite Income ETF by 18.6% in the third quarter. J.W. Cole Advisors Inc. now owns 11,633 shares of the company’s stock worth $268,000 after acquiring an additional 1,821 shares in the last quarter.

About First Trust BuyWrite Income ETF

The First Trust BuyWrite Income ETF (FTHI) is an exchange-traded fund that is based on the S&P 500 index. The fund is an actively managed portfolio of US-listed stocks, with an overlay of short calls on the S&P 500. FTHI was launched on Jan 6, 2014 and is managed by First Trust.