First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Reaches New 52-Week High - Here's Why

Key Points

• FTGC reached a new 52-week high, trading as high as $37.50 compared with its previous close of $30.40, although only 915 shares changed hands.
• The fund paid a quarterly dividend of $0.1691, equivalent to an annualized $0.68 and a 2.2% yield; the article notes that the dividend was recently cut.
• Several institutional investors increased or initiated positions in FTGC, including Geneos Wealth Management, which raised its holdings by 202.5% in the second quarter.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.50 and last traded at $37.50, with a volume of 915 shares trading hands. The stock had previously closed at $30.40.

First Trust Global Tactical Commodity Strategy Fund Trading Up 0.6%

The stock's 50 day simple moving average is $28.45 and its 200 day simple moving average is $28.09.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a $0.1691 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, June 25th.

Hedge Funds Weigh In On First Trust Global Tactical Commodity Strategy Fund

Several large investors have recently modified their holdings of the stock. Private Trust Co. NA raised its stake in First Trust Global Tactical Commodity Strategy Fund by 59.2% during the fourth quarter. Private Trust Co. NA now owns 2,370 shares of the company's stock valued at $55,000 after buying an additional 881 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of First Trust Global Tactical Commodity Strategy Fund in the 1st quarter worth approximately $73,000. Ameriflex Group Inc. grew its position in shares of First Trust Global Tactical Commodity Strategy Fund by 67.6% in the 4th quarter. Ameriflex Group Inc. now owns 3,134 shares of the company's stock worth $73,000 after acquiring an additional 1,264 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the 1st quarter valued at approximately $101,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 202.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,296 shares of the company's stock valued at $106,000 after acquiring an additional 2,876 shares during the last quarter.

First Trust Global Tactical Commodity Strategy Fund Company Profile

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.

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