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 share price hit a new 52-week high on Monday . The company traded as high as $244.87 and last traded at $244.50, with a volume of 50605 shares trading hands. The stock had previously closed at $241.99.

First Trust Dow Jones Internet Index Fund Price Performance

The company has a market cap of $7.29 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47. The business’s fifty day moving average price is $224.09 and its 200 day moving average price is $208.39.

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

Several hedge funds and other institutional investors have recently bought and sold shares of FDN. International Assets Investment Management LLC increased its stake 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 purchasing an additional 886,446 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of First Trust Dow Jones Internet Index Fund by 35.9% during the second quarter. NewEdge Advisors LLC now owns 111,409 shares of the company’s stock worth $22,832,000 after acquiring an additional 29,460 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of First Trust Dow Jones Internet Index Fund during the second quarter worth about $22,580,000. Cambridge Investment Research Advisors Inc. increased its position in shares of First Trust Dow Jones Internet Index Fund by 1.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 104,679 shares of the company’s stock worth $21,453,000 after acquiring an additional 1,116 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased 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 worth $19,247,000 after acquiring an additional 13,456 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.