First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) Sees Large Volume Increase – Should You Buy?

First Trust TCW Unconstrained Plus Bond ETF (NYSEARCA:UCON) saw unusually-strong trading volume on Tuesday . Approximately 1,777,172 shares were traded during mid-day trading, an increase of 148% from the previous session’s volume of 717,580 shares.The stock last traded at $24.84 and had previously closed at $24.84.

First Trust TCW Unconstrained Plus Bond ETF Price Performance

The business has a fifty day moving average of $24.74 and a two-hundred day moving average of $24.82.

Hedge Funds Weigh In On First Trust TCW Unconstrained Plus Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in shares of First Trust TCW Unconstrained Plus Bond ETF by 15.9% in the fourth quarter. LPL Financial LLC now owns 11,963,596 shares of the company’s stock worth $294,903,000 after acquiring an additional 1,644,378 shares during the last quarter. Bank of America Corp DE grew its stake in shares of First Trust TCW Unconstrained Plus Bond ETF by 25.2% in the 4th quarter. Bank of America Corp DE now owns 4,827,054 shares of the company’s stock valued at $118,987,000 after buying an additional 972,637 shares during the period. Wells Fargo & Company MN grew its position in First Trust TCW Unconstrained Plus Bond ETF by 28.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,211,307 shares of the company’s stock worth $103,809,000 after acquiring an additional 921,134 shares during the period. Harbour Investments Inc. increased its stake in First Trust TCW Unconstrained Plus Bond ETF by 15.6% during the fourth quarter. Harbour Investments Inc. now owns 3,975,370 shares of the company’s stock worth $97,993,000 after acquiring an additional 536,285 shares during the last quarter. Finally, Royal Bank of Canada raised its position in First Trust TCW Unconstrained Plus Bond ETF by 6.0% in the fourth quarter. Royal Bank of Canada now owns 3,200,433 shares of the company’s stock valued at $78,890,000 after purchasing an additional 182,381 shares during the period.

About First Trust TCW Unconstrained Plus Bond ETF

The First Trust TCW Unconstrained Plus Bond ETF (UCON) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund, which broadly invests in various fixed income securities of almost any sector, maturity, or credit quality. UCON was launched on Jun 4, 2018 and is managed by First Trust.