First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Shares Down 3% – What’s Next?

First Trust Innovation Leaders ETF (NYSEARCA:ILDR)’s stock price dropped 3% on Thursday . The company traded as low as $30.38 and last traded at $30.53. Approximately 84,982 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 102,245 shares. The stock had previously closed at $31.49.

First Trust Innovation Leaders ETF Trading Down 3.0%

The stock has a fifty day moving average price of $33.20 and a 200 day moving average price of $32.37. The firm has a market cap of $209.13 million, a price-to-earnings ratio of 39.35 and a beta of 1.23.

Hedge Funds Weigh In On First Trust Innovation Leaders ETF

A number of institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its stake in shares of First Trust Innovation Leaders ETF by 88.6% in the first quarter. Jane Street Group LLC now owns 30,309 shares of the company’s stock worth $707,000 after buying an additional 14,238 shares during the last quarter. Morey & Quinn Wealth Partners LLC acquired a new position in First Trust Innovation Leaders ETF during the 2nd quarter worth $263,000. Kraft Davis & Associates LLC bought a new stake in First Trust Innovation Leaders ETF during the second quarter valued at about $1,873,000. Strategic Blueprint LLC grew its position in shares of First Trust Innovation Leaders ETF by 8.9% in the second quarter. Strategic Blueprint LLC now owns 13,521 shares of the company’s stock valued at $398,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of First Trust Innovation Leaders ETF by 41.6% in the second quarter. Envestnet Asset Management Inc. now owns 32,507 shares of the company’s stock worth $957,000 after purchasing an additional 9,544 shares during the period.

First Trust Innovation Leaders ETF Company Profile

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.