Merit Financial Group LLC Sells 19,221 Shares of First Trust Growth Strength ETF $FTGS

Merit Financial Group LLC cut its holdings in shares of First Trust Growth Strength ETF (NASDAQ:FTGS) by 37.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,327 shares of the company’s stock after selling 19,221 shares during the quarter. Merit Financial Group LLC owned approximately 0.09% of First Trust Growth Strength ETF worth $1,161,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FTGS. Royal Bank of Canada increased its position in shares of First Trust Growth Strength ETF by 108.9% in the first quarter. Royal Bank of Canada now owns 404,261 shares of the company’s stock valued at $12,027,000 after acquiring an additional 210,723 shares during the last quarter. NewEdge Advisors LLC grew its stake in First Trust Growth Strength ETF by 21.2% in the first quarter. NewEdge Advisors LLC now owns 192,099 shares of the company’s stock valued at $5,715,000 after purchasing an additional 33,600 shares in the last quarter. Jones Financial Companies Lllp grew its stake in First Trust Growth Strength ETF by 30,257.9% in the first quarter. Jones Financial Companies Lllp now owns 28,840 shares of the company’s stock valued at $858,000 after purchasing an additional 28,745 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of First Trust Growth Strength ETF during the 1st quarter worth approximately $1,009,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of First Trust Growth Strength ETF during the 1st quarter worth approximately $2,878,000.

First Trust Growth Strength ETF Trading Up 1.6%

NASDAQ FTGS opened at $35.87 on Tuesday. First Trust Growth Strength ETF has a 12 month low of $25.74 and a 12 month high of $36.65. The stock has a 50 day moving average of $35.28 and a 200-day moving average of $35.23. The company has a market cap of $1.28 billion, a PE ratio of 23.90 and a beta of 1.12.

First Trust Growth Strength ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were paid a $0.0055 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%.

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. FTGS was launched on Oct 25, 2022 and is managed by First Trust.