First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Trading 0.6% Higher – Time to Buy?

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXGGet Free Report)’s share price rose 0.6% during trading on Monday . The company traded as high as $23.75 and last traded at $23.62. 4,955 shares changed hands during trading, a decline of 72% from the average session volume of 17,793 shares. The stock had previously closed at $23.49.

First Trust Nasdaq Food & Beverage ETF Trading Up 0.6%

The firm’s 50 day moving average is $22.80 and its two-hundred day moving average is $22.62. The stock has a market cap of $24.80 million, a price-to-earnings ratio of 15.14 and a beta of 0.39.

First Trust Nasdaq Food & Beverage ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1294 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from First Trust Nasdaq Food & Beverage ETF’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, June 25th.

Hedge Funds Weigh In On First Trust Nasdaq Food & Beverage ETF

Several institutional investors and hedge funds have recently modified their holdings of FTXG. Raymond James Financial Inc. acquired a new stake in First Trust Nasdaq Food & Beverage ETF during the second quarter worth approximately $147,000. UBS Group AG purchased a new stake in First Trust Nasdaq Food & Beverage ETF in the 3rd quarter worth approximately $1,000,000. Citadel Advisors LLC raised its holdings in First Trust Nasdaq Food & Beverage ETF by 2.6% in the 3rd quarter. Citadel Advisors LLC now owns 35,284 shares of the company’s stock valued at $756,000 after acquiring an additional 885 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in First Trust Nasdaq Food & Beverage ETF by 24.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 31,493 shares of the company’s stock valued at $660,000 after acquiring an additional 6,121 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of First Trust Nasdaq Food & Beverage ETF by 37.0% during the 4th quarter. LPL Financial LLC now owns 13,432 shares of the company’s stock worth $281,000 after purchasing an additional 3,631 shares during the period.

About First Trust Nasdaq Food & Beverage ETF

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The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.

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