First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Shares Down 2% - Should You Sell?

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - Get Free Report)'s stock price traded down 2% during trading on Thursday . The company traded as low as $56.03 and last traded at $56.15. 258,412 shares were traded during mid-day trading, an increase of 430% from the average session volume of 48,724 shares. The stock had previously closed at $57.27.

First Trust NASDAQ ABA Community Bank Index Fund Stock Performance

The stock's 50-day simple moving average is $54.47 and its 200 day simple moving average is $53.79. The company has a market capitalization of $120.21 million, a PE ratio of 13.59 and a beta of 0.92.

First Trust NASDAQ ABA Community Bank Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were given a $0.2781 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QABA. Cambridge Investment Research Advisors Inc. grew its position in First Trust NASDAQ ABA Community Bank Index Fund by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,452 shares of the company's stock worth $2,376,000 after purchasing 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 1st quarter worth $3,017,000. Thurston Springer Miller Herd & Titak Inc. grew its position in First Trust NASDAQ ABA Community Bank Index Fund by 11.4% during the 1st 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 last quarter. Cetera Investment Advisers purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the 4th quarter worth $315,000. Finally, Waverly Advisors LLC purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the 4th quarter worth $208,000.

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.