First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Hits New 12-Month High – Still a Buy?

Shares of First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) reached a new 52-week high on Friday . The company traded as high as $21.20 and last traded at $21.17, with a volume of 51857 shares trading hands. The stock had previously closed at $21.04.

First Trust NASDAQ BuyWrite Income ETF Stock Performance

The stock has a market cap of $824.89 million, a price-to-earnings ratio of 32.31 and a beta of 0.61. The company has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $20.67.

First Trust NASDAQ BuyWrite Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a dividend of $0.207 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 11.7%.

Hedge Funds Weigh In On First Trust NASDAQ BuyWrite Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in First Trust NASDAQ BuyWrite Income ETF by 10.7% in the 4th quarter. LPL Financial LLC now owns 3,185,721 shares of the company’s stock valued at $66,327,000 after buying an additional 307,710 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 26.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,011,400 shares of the company’s stock worth $41,877,000 after purchasing an additional 417,518 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of First Trust NASDAQ BuyWrite Income ETF by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,137,323 shares of the company’s stock worth $23,679,000 after purchasing an additional 34,266 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in First Trust NASDAQ BuyWrite Income ETF by 6.4% in the third quarter. Integrated Wealth Concepts LLC now owns 679,915 shares of the company’s stock valued at $14,006,000 after purchasing an additional 40,745 shares during the period. Finally, Fifth Third Securities Inc. raised its position in First Trust NASDAQ BuyWrite Income ETF by 6.6% during the 3rd quarter. Fifth Third Securities Inc. now owns 595,389 shares of the company’s stock worth $12,265,000 after purchasing an additional 36,979 shares during the last quarter.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.