Assetmark Inc. Cuts Stake in First Trust Nasdaq Bank ETF $FTXO

Assetmark Inc. cut its holdings in shares of First Trust Nasdaq Bank ETF (NASDAQ:FTXO) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,276 shares of the company’s stock after selling 42,370 shares during the period. Assetmark Inc. owned 1.45% of First Trust Nasdaq Bank ETF worth $3,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in First Trust Nasdaq Bank ETF by 29.6% during the 3rd quarter. Bank of America Corp DE now owns 204,787 shares of the company’s stock worth $7,292,000 after buying an additional 46,736 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of First Trust Nasdaq Bank ETF by 22.6% during the third quarter. Raymond James Financial Inc. now owns 198,974 shares of the company’s stock valued at $7,085,000 after acquiring an additional 36,648 shares in the last quarter. Holistic Financial Partners purchased a new position in shares of First Trust Nasdaq Bank ETF in the 4th quarter valued at approximately $957,000. GeoWealth Management LLC purchased a new position in shares of First Trust Nasdaq Bank ETF in the 3rd quarter valued at approximately $864,000. Finally, Park Avenue Securities LLC acquired a new stake in First Trust Nasdaq Bank ETF in the 3rd quarter worth approximately $774,000.

First Trust Nasdaq Bank ETF Stock Performance

Shares of First Trust Nasdaq Bank ETF stock opened at $39.15 on Monday. First Trust Nasdaq Bank ETF has a 12-month low of $26.74 and a 12-month high of $41.57. The firm has a market capitalization of $338.65 million, a price-to-earnings ratio of 11.56 and a beta of 0.92. The firm’s 50 day simple moving average is $37.36 and its two-hundred day simple moving average is $36.88.

First Trust Nasdaq Bank ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a dividend of $0.0735 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.8%.

First Trust Nasdaq Bank ETF Profile

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.