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

Shares of First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) reached a new 52-week high on Monday . The stock traded as high as $257.87 and last traded at $257.87, with a volume of 157342 shares. The stock had previously closed at $254.16.

First Trust Dow Jones Internet Index Fund Stock Performance

The firm has a market capitalization of $7.34 billion, a PE ratio of 36.60 and a beta of 1.47. The business’s fifty day simple moving average is $234.41 and its 200-day simple moving average is $212.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp raised its position in shares of First Trust Dow Jones Internet Index Fund by 2,224.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 39,346 shares of the company’s stock valued at $8,335,000 after buying an additional 37,653 shares in the last quarter. Synovus Financial Corp raised its position in First Trust Dow Jones Internet Index Fund by 15.7% during the third quarter. Synovus Financial Corp now owns 4,266 shares of the company’s stock valued at $904,000 after purchasing an additional 580 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of First Trust Dow Jones Internet Index Fund in the 3rd quarter valued at approximately $49,000. World Investment Advisors LLC purchased a new position in shares of First Trust Dow Jones Internet Index Fund in the 3rd quarter worth approximately $5,002,000. Finally, Tudor Financial Inc. bought a new stake in First Trust Dow Jones Internet Index Fund in the third quarter worth $1,108,000.

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.