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

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) shares saw unusually-high trading volume on Friday . Approximately 1,023,955 shares traded hands during mid-day trading, an increase of 176% from the previous session’s volume of 371,067 shares.The stock last traded at $218.99 and had previously closed at $217.73.

First Trust Dow Jones Internet Index Fund Stock Up 0.5 %

The company has a market cap of $6.55 billion, a price-to-earnings ratio of 36.60 and a beta of 1.47. The stock has a 50 day simple moving average of $202.16 and a 200 day simple moving average of $201.63.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. acquired a new position in First Trust Dow Jones Internet Index Fund in the first quarter worth $37,000. Farmers & Merchants Investments Inc. raised its stake 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 acquiring an additional 223 shares during the period. BOKF NA lifted its holdings in First Trust Dow Jones Internet Index Fund by 44.9% in the second quarter. BOKF NA now owns 329 shares of the company’s stock worth $67,000 after acquiring an additional 102 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of First Trust Dow Jones Internet Index Fund during the first quarter valued at approximately $94,000. Finally, Aptus Capital Advisors LLC raised its position in shares of First Trust Dow Jones Internet Index Fund by 38.3% during the 2nd quarter. Aptus Capital Advisors LLC now owns 516 shares of the company’s stock worth $106,000 after purchasing an additional 143 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.