First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Shares Up 0.2% - Here's Why

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 - Get Free Report) rose 0.2% during mid-day trading on Monday . The company traded as high as $58.69 and last traded at $58.60. Approximately 5,203 shares were traded during 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 Performance

The business's fifty day moving average price is $56.65 and its 200-day moving average price is $53.73. The stock has a market cap of $118.74 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 declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a dividend of $0.2781 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ ABA Community Bank Index Fund

A number of institutional investors have recently made changes to their positions in QABA. Waverly Advisors LLC purchased a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund during the 4th quarter valued at about $208,000. Baird Financial Group Inc. purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the fourth quarter worth approximately $300,000. Cetera Investment Advisers purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund in the fourth quarter worth approximately $315,000. WMG Financial Advisors LLC boosted its holdings 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 buying an additional 585 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings 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 buying an additional 365 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.