First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) Shares Down 1% – Here’s Why

First Trust Dow Jones International Internet ETF (NASDAQ:FDNI)’s share price fell 1% during trading on Friday . The company traded as low as $37.87 and last traded at $37.87. 1,701 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 44,715 shares. The stock had previously closed at $38.26.

First Trust Dow Jones International Internet ETF Stock Down 1.0%

The stock has a 50 day simple moving average of $35.75 and a 200 day simple moving average of $33.11. The stock has a market cap of $47.34 million, a price-to-earnings ratio of 21.90 and a beta of 0.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its position in First Trust Dow Jones International Internet ETF by 9.1% in the second quarter. Osaic Holdings Inc. now owns 61,191 shares of the company’s stock worth $2,059,000 after purchasing an additional 5,080 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in First Trust Dow Jones International Internet ETF in the second quarter worth $102,000. Jane Street Group LLC bought a new stake in shares of First Trust Dow Jones International Internet ETF in the second quarter valued at $815,000. NewEdge Advisors LLC lifted its position in shares of First Trust Dow Jones International Internet ETF by 3.6% during the 2nd quarter. NewEdge Advisors LLC now owns 261,410 shares of the company’s stock valued at $8,797,000 after buying an additional 8,995 shares during the last quarter. Finally, Assetmark Inc. purchased a new position in shares of First Trust Dow Jones International Internet ETF during the 2nd quarter valued at $526,000.

First Trust Dow Jones International Internet ETF Company Profile

The First Trust Dow Jones International Internet ETF (FDNI) is an exchange-traded fund that is based on the Dow Jones International Internet index, a market-cap-weighted index that holds a concentrated portfolio of the largest internet services and commerce companies outside of the US. FDNI was launched on Nov 5, 2018 and is managed by First Trust.