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

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $261.53 and last traded at $260.82, with a volume of 746649 shares. The stock had previously closed at $255.25.

First Trust Dow Jones Internet Index Fund Stock Up 0.4 %

The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47. The company’s 50-day simple moving average is $249.49 and its 200-day simple moving average is $223.18.

Institutional Investors Weigh In On First Trust Dow Jones Internet Index Fund

A number of institutional investors and hedge funds have recently modified their holdings of FDN. International Assets Investment Management LLC lifted its position in shares of First Trust Dow Jones Internet Index Fund by 21,573.3% in the 3rd quarter. International Assets Investment Management LLC now owns 890,555 shares of the company’s stock valued at $188,646,000 after acquiring an additional 886,446 shares in the last quarter. Marks Wealth LLC acquired a new stake in shares of First Trust Dow Jones Internet Index Fund in the fourth quarter worth $33,715,000. Janney Montgomery Scott LLC raised its position in First Trust Dow Jones Internet Index Fund by 3.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 97,786 shares of the company’s stock valued at $23,779,000 after buying an additional 3,239 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of First Trust Dow Jones Internet Index Fund by 6,655.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 93,432 shares of the company’s stock valued at $19,792,000 after purchasing an additional 92,049 shares during the period. Finally, Nilsine Partners LLC boosted its stake in shares of First Trust Dow Jones Internet Index Fund by 6.3% during the 4th quarter. Nilsine Partners LLC now owns 87,502 shares of the company’s stock valued at $21,278,000 after buying an additional 5,212 shares during the period.

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.