First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Reaches New 12-Month High – Should You Buy?

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $224.12 and last traded at $224.12, with a volume of 70444 shares trading hands. The stock had previously closed at $221.83.

First Trust Dow Jones Internet Index Fund Stock Performance

The firm’s 50 day moving average is $211.56 and its 200-day moving average is $203.87. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47.

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

A number of large investors have recently bought and sold shares of FDN. Geneos Wealth Management Inc. grew its position in shares of First Trust Dow Jones Internet Index Fund by 34.8% in the first quarter. Geneos Wealth Management Inc. now owns 6,977 shares of the company’s stock valued at $1,431,000 after purchasing an additional 1,802 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in First Trust Dow Jones Internet Index Fund by 32.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,032 shares of the company’s stock worth $2,263,000 after buying an additional 2,681 shares in the last quarter. PFG Advisors raised its holdings in shares of First Trust Dow Jones Internet Index Fund by 1,378.8% during the first quarter. PFG Advisors now owns 36,069 shares of the company’s stock valued at $7,397,000 after acquiring an additional 33,630 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of First Trust Dow Jones Internet Index Fund by 38.6% in the first quarter. Oppenheimer & Co. Inc. now owns 37,456 shares of the company’s stock worth $7,682,000 after acquiring an additional 10,440 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of First Trust Dow Jones Internet Index Fund by 17.0% during the first quarter. Concurrent Investment Advisors LLC now owns 7,270 shares of the company’s stock worth $1,491,000 after purchasing an additional 1,057 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.