First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Trading Down 1.7% - What's Next?

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.

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

First Trust NASDAQ ABA Community Bank Index Fund Trading Down 1.7%

The stock has a market capitalization of $113.55 million, a price-to-earnings ratio of 13.59 and a beta of 0.92. The firm has a 50-day moving average of $55.03 and a 200-day moving average of $53.62.

First Trust NASDAQ ABA Community Bank Index Fund Cuts Dividend

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

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

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter worth about $1,094,000. Cetera Investment Advisers boosted its position in First Trust NASDAQ ABA Community Bank Index Fund by 9.3% during 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 during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in First Trust NASDAQ ABA Community Bank Index Fund by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,452 shares of the company's stock worth $2,376,000 after acquiring an additional 1,470 shares during the last quarter. Lumbard & Kellner LLC purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter worth approximately $3,017,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in First Trust NASDAQ ABA Community Bank Index Fund by 11.4% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,805 shares of the company's stock worth $408,000 after purchasing an additional 796 shares during the period.

First Trust NASDAQ ABA Community Bank Index Fund Company Profile

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.