First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Stock Price Down 0.7% – Here’s Why

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH)’s share price dropped 0.7% on Thursday . The stock traded as low as $34.17 and last traded at $34.21. Approximately 8,664 shares traded hands during trading, an increase of 25% from the average daily volume of 6,905 shares. The stock had previously closed at $34.46.

First Trust Nasdaq Pharmaceuticals ETF Stock Down 0.7%

The company’s 50 day moving average price is $34.43 and its two-hundred day moving average price is $32.74. The stock has a market cap of $29.08 million, a P/E ratio of 14.51 and a beta of 0.51.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a dividend of $0.0573 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Trading of First Trust Nasdaq Pharmaceuticals ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. OLD Mission Capital LLC bought a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the fourth quarter valued at approximately $528,000. Kestra Advisory Services LLC bought a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the fourth quarter valued at approximately $59,000. Vivaldi Capital Management LP raised its stake in shares of First Trust Nasdaq Pharmaceuticals ETF by 10.8% during the fourth quarter. Vivaldi Capital Management LP now owns 10,849 shares of the company’s stock valued at $357,000 after acquiring an additional 1,059 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the fourth quarter valued at approximately $237,000. Finally, LPL Financial LLC raised its stake in shares of First Trust Nasdaq Pharmaceuticals ETF by 40.5% during the fourth quarter. LPL Financial LLC now owns 146,105 shares of the company’s stock valued at $4,813,000 after acquiring an additional 42,147 shares in the last quarter.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.