First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Trading Down 1.7% - Should You Sell?

Key Points

• The First Trust NASDAQ ABA Community Bank Index Fund (QABA) experienced a stock price drop of 1.7%, closing at $55.39 after trading as low as $55.29.
• In a recent quarterly dividend, the fund paid $0.2781 per share, reflecting an annualized yield of 2.0%.
• Several large investors, including Thurston Springer Miller Herd & Titak Inc. and Janney Montgomery Scott LLC, have increased their stakes in the fund during the second quarter.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - Get Free Report) shares fell 1.7% during mid-day trading on Friday . The stock traded as low as $55.29 and last traded at $55.39. 8,339 shares changed hands during trading, a decline of 82% from the average session volume of 46,962 shares. The stock had previously closed at $56.37.

First Trust NASDAQ ABA Community Bank Index Fund Stock Up 0.3%

The firm has a market cap of $114.53 million, a PE ratio of 13.59 and a beta of 0.92. The firm's 50 day moving average is $55.15 and its 200-day moving average is $53.64.

First Trust NASDAQ ABA Community Bank Index Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were given a dividend of $0.2781 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.11 annualized dividend and a yield of 2.0%.

Hedge Funds Weigh In On First Trust NASDAQ ABA Community Bank Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of QABA. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,990 shares of the company's stock worth $433,000 after acquiring an additional 185 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 5.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,612 shares of the company's stock worth $358,000 after acquiring an additional 365 shares in the last quarter. Signet Financial Management LLC increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 4.5% in the second quarter. Signet Financial Management LLC now owns 11,730 shares of the company's stock worth $636,000 after acquiring an additional 505 shares in the last quarter. Cetera Investment Advisers increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 9.3% in the first quarter. Cetera Investment Advisers now owns 6,200 shares of the company's stock worth $324,000 after acquiring an additional 530 shares in the last quarter. Finally, WMG Financial Advisors LLC increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 10.5% in the second quarter. WMG Financial Advisors LLC now owns 6,142 shares of the company's stock worth $333,000 after acquiring an additional 585 shares in the last quarter.

About First Trust NASDAQ ABA Community Bank Index Fund

The First Trust NASDAQ ABA Community Bank Index Fund (QABA) is an exchange-traded fund that is based on the NASDAQ OMX ABA Community Bank index. The fund tracks an index of NASDAQ-listed banks and thrifts, excluding the 50 largest. QABA was launched on Jun 29, 2009 and is managed by First Trust.