Merit Financial Group LLC Sells 19,221 Shares of First Trust Growth Strength ETF $FTGS

Merit Financial Group LLC lessened its holdings in shares of First Trust Growth Strength ETF (NASDAQ:FTGS) by 37.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,327 shares of the company’s stock after selling 19,221 shares during the quarter. Merit Financial Group LLC’s holdings in First Trust Growth Strength ETF were worth $1,161,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Private Trust Co. NA boosted its stake in shares of First Trust Growth Strength ETF by 49.6% during the 3rd quarter. Private Trust Co. NA now owns 1,183 shares of the company’s stock worth $42,000 after acquiring an additional 392 shares during the period. Salem Investment Counselors Inc. bought a new position in First Trust Growth Strength ETF during the third quarter worth $44,000. Fifth Third Bancorp increased its holdings in shares of First Trust Growth Strength ETF by 138.8% in the second quarter. Fifth Third Bancorp now owns 2,185 shares of the company’s stock valued at $75,000 after purchasing an additional 1,270 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of First Trust Growth Strength ETF in the second quarter valued at about $128,000. Finally, tru Independence LLC bought a new position in shares of First Trust Growth Strength ETF in the second quarter valued at about $205,000.

First Trust Growth Strength ETF Stock Performance

NASDAQ FTGS opened at $35.87 on Tuesday. First Trust Growth Strength ETF has a 52-week low of $25.74 and a 52-week high of $36.65. The stock has a market cap of $1.28 billion, a PE ratio of 23.90 and a beta of 1.12. The firm has a 50-day moving average of $35.28 and a 200-day moving average of $35.23.

First Trust Growth Strength ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were given a $0.0055 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.