First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Unusually-High Trading Volume – Still a Buy?

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw an uptick in trading volume on Friday . 423,841 shares changed hands during mid-day trading, an increase of 170% from the previous session’s volume of 156,854 shares.The stock last traded at $19.16 and had previously closed at $19.20.

First Trust NASDAQ BuyWrite Income ETF Stock Down 0.2 %

The stock has a market capitalization of $574.65 million, a PE ratio of 30.28 and a beta of 0.53. The firm has a 50 day moving average price of $20.51 and a 200 day moving average price of $20.66.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a dividend of $0.207 per share. This represents a $2.48 dividend on an annualized basis and a yield of 12.97%. This is an increase from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Trading of First Trust NASDAQ BuyWrite Income ETF

Several institutional investors and hedge funds have recently made changes to their positions in FTQI. Atria Investments Inc purchased a new stake in First Trust NASDAQ BuyWrite Income ETF in the 3rd quarter valued at about $233,000. Avior Wealth Management LLC increased its position in shares of First Trust NASDAQ BuyWrite Income ETF by 32.7% during the third quarter. Avior Wealth Management LLC now owns 17,672 shares of the company’s stock valued at $362,000 after acquiring an additional 4,354 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in First Trust NASDAQ BuyWrite Income ETF by 23.2% during the third quarter. Arete Wealth Advisors LLC now owns 17,163 shares of the company’s stock worth $350,000 after acquiring an additional 3,235 shares during the period. Integrated Wealth Concepts LLC boosted its position in First Trust NASDAQ BuyWrite Income ETF by 8.9% in the third quarter. Integrated Wealth Concepts LLC now owns 647,285 shares of the company’s stock worth $13,256,000 after purchasing an additional 52,767 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of First Trust NASDAQ BuyWrite Income ETF by 9.1% during the 3rd quarter. IHT Wealth Management LLC now owns 47,657 shares of the company’s stock valued at $976,000 after purchasing an additional 3,993 shares during the last quarter.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.