First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 52-Week High – Should You Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $257.87 and last traded at $257.87, with a volume of 157342 shares traded. The stock had previously closed at $254.16.

First Trust Dow Jones Internet Index Fund Stock Performance

The company has a 50-day moving average of $232.11 and a 200-day moving average of $211.82. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in First Trust Dow Jones Internet Index Fund by 21,573.3% in the third quarter. International Assets Investment Management LLC now owns 890,555 shares of the company’s stock valued at $188,646,000 after acquiring an additional 886,446 shares during the last quarter. NewEdge Advisors LLC lifted its stake in First Trust Dow Jones Internet Index Fund by 35.9% in the second quarter. NewEdge Advisors LLC now owns 111,409 shares of the company’s stock valued at $22,832,000 after buying an additional 29,460 shares during the period. Citizens Financial Group Inc. RI bought a new position in First Trust Dow Jones Internet Index Fund in the second quarter worth approximately $22,580,000. Cambridge Investment Research Advisors Inc. boosted its stake in First Trust Dow Jones Internet Index Fund by 1.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 104,679 shares of the company’s stock valued at $21,453,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of First Trust Dow Jones Internet Index Fund by 16.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 93,918 shares of the company’s stock valued at $19,247,000 after buying an additional 13,456 shares during 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.