First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Sees Strong Trading Volume – Here’s Why

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) saw unusually-high trading volume on Monday . Approximately 239,464 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 383,220 shares.The stock last traded at $230.93 and had previously closed at $230.78.

First Trust Dow Jones Internet Index Fund Trading Up 1.2 %

The firm has a 50-day simple moving average of $218.22 and a two-hundred day simple moving average of $206.29. The company has a market capitalization of $7.00 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

Hedge funds have recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in First Trust Dow Jones Internet Index Fund during the third quarter valued at about $33,000. Carmichael Hill & Associates Inc. increased its holdings in shares of First Trust Dow Jones Internet Index Fund by 149.3% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 167 shares of the company’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. Private Trust Co. NA raised its stake in shares of First Trust Dow Jones Internet Index Fund by 28.0% in the 3rd quarter. Private Trust Co. NA now owns 215 shares of the company’s stock valued at $46,000 after acquiring an additional 47 shares in the last quarter. Activest Wealth Management lifted its holdings in First Trust Dow Jones Internet Index Fund by 132.1% in the 3rd quarter. Activest Wealth Management now owns 246 shares of the company’s stock worth $52,000 after purchasing an additional 140 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in First Trust Dow Jones Internet Index Fund by 602.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 260 shares of the company’s stock worth $53,000 after purchasing an additional 223 shares during the period.

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.