First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Trading Down 1.2% - What's Next?

Key Points

• The First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) shares experienced a 1.2% decline, trading as low as $56.20 and closing at $56.32, with a notable increase in trading volume.
• The fund announced a quarterly dividend of $0.3523, increasing from the previous $0.28, representing an annual yield of 2.5%.
• Several hedge funds have increased their holdings in QABA, including WMG Financial Advisors LLC, which raised its stake by 10.5% during the previous quarter.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) shares dropped 1.2% during mid-day trading on Monday . The stock traded as low as $56.20 and last traded at $56.32. Approximately 99,535 shares changed hands during trading, an increase of 126% from the average daily volume of 44,116 shares. The stock had previously closed at $57.03.

First Trust NASDAQ ABA Community Bank Index Fund Stock Performance

The business's fifty day moving average price is $56.71 and its 200-day moving average price is $54.02. The stock has a market cap of $115.45 million, a PE ratio of 13.59 and a beta of 0.92.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 25th will be issued a $0.3523 dividend. This is an increase from First Trust NASDAQ ABA Community Bank Index Fund's previous quarterly dividend of $0.28. This represents a $1.41 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, September 25th.

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

Several hedge funds and other institutional investors have recently modified their holdings of QABA. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 during the period. Janney Montgomery Scott LLC boosted its position in 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 purchasing an additional 365 shares during the last quarter. Signet Financial Management LLC grew its stake in shares of First Trust NASDAQ ABA Community Bank Index Fund by 4.5% during the 2nd quarter. Signet Financial Management LLC now owns 11,730 shares of the company's stock valued at $636,000 after purchasing an additional 505 shares during the period. Cetera Investment Advisers grew its stake in shares of First Trust NASDAQ ABA Community Bank Index Fund by 9.3% during the 1st quarter. Cetera Investment Advisers now owns 6,200 shares of the company's stock valued at $324,000 after purchasing an additional 530 shares during the period. Finally, WMG Financial Advisors LLC increased its position in shares of First Trust NASDAQ ABA Community Bank Index Fund by 10.5% during the 2nd quarter. WMG Financial Advisors LLC now owns 6,142 shares of the company's stock valued at $333,000 after purchasing an additional 585 shares during the last quarter.

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.

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