First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Hits New 12-Month High – Time to Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $244.87 and last traded at $244.50, with a volume of 50605 shares traded. The stock had previously closed at $241.99.

First Trust Dow Jones Internet Index Fund Stock Up 0.8 %

The company has a market capitalization of $7.29 billion, a P/E ratio of 36.60 and a beta of 1.47. The firm’s 50-day moving average price is $224.09 and its 200 day moving average price is $208.39.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDN. GAMMA Investing LLC boosted its stake in First Trust Dow Jones Internet Index Fund by 63.7% in the second quarter. GAMMA Investing LLC now owns 1,018 shares of the company’s stock valued at $209,000 after acquiring an additional 396 shares during the last quarter. Worth Asset Management LLC boosted its stake in First Trust Dow Jones Internet Index Fund by 3.1% in the second quarter. Worth Asset Management LLC now owns 3,605 shares of the company’s stock valued at $739,000 after acquiring an additional 110 shares during the last quarter. Juncture Wealth Strategies LLC boosted its stake in First Trust Dow Jones Internet Index Fund by 1.1% in the second quarter. Juncture Wealth Strategies LLC now owns 9,098 shares of the company’s stock valued at $1,865,000 after acquiring an additional 97 shares during the last quarter. Atlas Private Wealth Advisors boosted its stake in First Trust Dow Jones Internet Index Fund by 53.6% in the second quarter. Atlas Private Wealth Advisors now owns 3,776 shares of the company’s stock valued at $774,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Wealth Management Partners LLC lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 5.8% during the 2nd quarter. Wealth Management Partners LLC now owns 34,262 shares of the company’s stock valued at $7,022,000 after buying an additional 1,891 shares in the last quarter.

About First Trust Dow Jones Internet Index Fund

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.