First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Sets New 52-Week High – Here’s Why

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) hit a new 52-week high during trading on Thursday . The company traded as high as $258.54 and last traded at $258.49, with a volume of 706698 shares traded. The stock had previously closed at $256.26.

First Trust Dow Jones Internet Index Fund Stock Up 0.9 %

The firm has a 50-day moving average price of $246.51 and a two-hundred day moving average price of $221.08. The company has a market capitalization of $7.73 billion, a P/E ratio of 36.60 and a beta of 1.47.

Hedge Funds Weigh In On First Trust Dow Jones Internet Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in First Trust Dow Jones Internet Index Fund by 21,573.3% during the third quarter. International Assets Investment Management LLC now owns 890,555 shares of the company’s stock worth $188,646,000 after purchasing an additional 886,446 shares during the period. Marks Wealth LLC bought a new position in shares of First Trust Dow Jones Internet Index Fund in the fourth quarter valued at approximately $33,715,000. NewEdge Advisors LLC boosted 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 worth $22,832,000 after purchasing an additional 29,460 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in First Trust Dow Jones Internet Index Fund by 3.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 97,786 shares of the company’s stock worth $23,779,000 after acquiring an additional 3,239 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in First Trust Dow Jones Internet Index Fund by 6,655.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 93,432 shares of the company’s stock valued at $19,792,000 after acquiring an additional 92,049 shares in the last quarter.

First Trust Dow Jones Internet Index Fund Company Profile

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.