First Trust Growth Strength ETF (NASDAQ:FTGS) Reaches New 52-Week High – What’s Next?

First Trust Growth Strength ETF (NASDAQ:FTGS)’s share price reached a new 52-week high on Friday . The stock traded as high as $33.55 and last traded at $33.44, with a volume of 62668 shares traded. The stock had previously closed at $33.15.

First Trust Growth Strength ETF Price Performance

The stock has a market capitalization of $1.06 billion, a P/E ratio of 19.17 and a beta of 1.11. The firm’s 50 day moving average price is $30.70 and its 200 day moving average price is $31.38.

First Trust Growth Strength ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were paid a dividend of $0.0248 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.30%. This is an increase from First Trust Growth Strength ETF’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 27th.

Hedge Funds Weigh In On First Trust Growth Strength ETF

Several hedge funds and other institutional investors have recently modified their holdings of FTGS. Wells Fargo & Company MN raised its stake in shares of First Trust Growth Strength ETF by 465.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,255 shares of the company’s stock valued at $71,000 after acquiring an additional 1,856 shares during the last quarter. Rossby Financial LCC bought a new position in shares of First Trust Growth Strength ETF during the first quarter valued at about $78,000. Kestra Investment Management LLC bought a new position in shares of First Trust Growth Strength ETF during the fourth quarter valued at about $83,000. REAP Financial Group LLC raised its stake in shares of First Trust Growth Strength ETF by 81.2% during the fourth quarter. REAP Financial Group LLC now owns 2,832 shares of the company’s stock valued at $89,000 after acquiring an additional 1,269 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of First Trust Growth Strength ETF by 152,750.0% during the first quarter. NBC Securities Inc. now owns 3,057 shares of the company’s stock valued at $90,000 after acquiring an additional 3,055 shares during the last quarter.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities.