PFG Advisors Trims Stock Holdings in First Trust Growth Strength ETF $FTGS

PFG Advisors lessened its stake in shares of First Trust Growth Strength ETF (NASDAQ:FTGS) by 41.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,152 shares of the company’s stock after selling 13,564 shares during the quarter. PFG Advisors’ holdings in First Trust Growth Strength ETF were worth $655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LPL Financial LLC lifted its holdings in shares of First Trust Growth Strength ETF by 14.5% in the 1st quarter. LPL Financial LLC now owns 4,364,579 shares of the company’s stock worth $129,846,000 after acquiring an additional 551,873 shares during the last quarter. Commonwealth Equity Services LLC raised its position in First Trust Growth Strength ETF by 36.3% in the first quarter. Commonwealth Equity Services LLC now owns 966,121 shares of the company’s stock valued at $28,742,000 after purchasing an additional 257,082 shares during the period. Independent Advisor Alliance acquired a new position in First Trust Growth Strength ETF during the first quarter worth $7,069,000. Royal Bank of Canada boosted its position in shares of First Trust Growth Strength ETF by 108.9% during the first quarter. Royal Bank of Canada now owns 404,261 shares of the company’s stock worth $12,027,000 after buying an additional 210,723 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of First Trust Growth Strength ETF by 21.1% in the 1st quarter. Raymond James Financial Inc. now owns 1,192,210 shares of the company’s stock valued at $35,468,000 after buying an additional 208,037 shares during the period.

First Trust Growth Strength ETF Price Performance

NASDAQ FTGS opened at $35.39 on Wednesday. The stock has a 50-day moving average of $35.88 and a two-hundred day moving average of $34.46. First Trust Growth Strength ETF has a 1-year low of $25.74 and a 1-year high of $36.65. The company has a market cap of $1.25 billion, a P/E ratio of 23.90 and a beta of 1.12.

First Trust Growth Strength ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were paid a $0.0242 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. This is a positive change from First Trust Growth Strength ETF’s previous quarterly dividend of $0.00. The ex-dividend date was Thursday, September 25th.

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.