First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Trading Up 0.2% - Time to Buy?

Key Points

• The First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) saw its shares rise by 0.2% on Monday, trading at $58.60 with a significant decline in trading volume, down 88% from the average daily volume.
• Recently, the fund declared a $0.2781 quarterly dividend, reflecting an annualized dividend yield of 1.9%, with the ex-dividend date on June 26.
• Several institutional investors have recently adjusted their positions in QABA, including a 27.1% increase in holdings by Bank of America Corp DE during the second quarter.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) shares were up 0.2% on Monday . The stock traded as high as $58.69 and last traded at $58.60. Approximately 5,203 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 44,812 shares. The stock had previously closed at $58.46.

First Trust NASDAQ ABA Community Bank Index Fund Stock Up 0.2%

The company has a market capitalization of $120.13 million, a price-to-earnings ratio of 13.59 and a beta of 0.92. The company's 50 day simple moving average is $56.57 and its two-hundred day simple moving average is $53.63.

First Trust NASDAQ ABA Community Bank Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a $0.2781 dividend. This represents a $1.11 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QABA. Lumbard & Kellner LLC purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the first quarter worth $3,017,000. Bank of America Corp DE raised its holdings in shares of First Trust NASDAQ ABA Community Bank Index Fund by 27.1% in the second quarter. Bank of America Corp DE now owns 139,575 shares of the company's stock worth $7,565,000 after buying an additional 29,749 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the second quarter worth $1,176,000. Virtu Financial LLC purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the first quarter worth $1,094,000. Finally, Jane Street Group LLC purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the second quarter worth $364,000.

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.

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