First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) Reaches New 52-Week High – Still a Buy?

First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $268.77 and last traded at $258.92, with a volume of 195186 shares changing hands. The stock had previously closed at $262.95.

First Trust Nasdaq Semiconductor ETF Stock Down 0.6%

The business has a fifty day simple moving average of $199.38 and a two-hundred day simple moving average of $161.28. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 28.27 and a beta of 1.69.

First Trust Nasdaq Semiconductor ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0131 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC raised its position in First Trust Nasdaq Semiconductor ETF by 0.6% in the 1st quarter. Sound Income Strategies LLC now owns 9,922 shares of the company’s stock worth $1,510,000 after purchasing an additional 61 shares during the last quarter. NBC Securities Inc. raised its position in First Trust Nasdaq Semiconductor ETF by 27.9% in the 4th quarter. NBC Securities Inc. now owns 394 shares of the company’s stock worth $51,000 after purchasing an additional 86 shares during the last quarter. Twin Peaks Wealth Advisors LLC raised its position in First Trust Nasdaq Semiconductor ETF by 2.5% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 4,608 shares of the company’s stock worth $597,000 after purchasing an additional 113 shares during the last quarter. Davis Investment Partners LLC raised its position in First Trust Nasdaq Semiconductor ETF by 1.8% in the 1st quarter. Davis Investment Partners LLC now owns 9,893 shares of the company’s stock worth $1,459,000 after purchasing an additional 172 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new position in First Trust Nasdaq Semiconductor ETF in the 4th quarter worth approximately $26,000.

About First Trust Nasdaq Semiconductor ETF

The First Trust Nasdaq Semiconductor ETF (FTXL) is an exchange-traded fund that is based on the Nasdaq US Smart Semiconductor index. The fund tracks an index of the most liquid US semiconductor companies, weighted according to factors related to value, volatility and growth. FTXL was launched on Sep 20, 2016 and is managed by First Trust.