First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Hits New 1-Year High - Here's Why

Key Points

• FTGC reached a new 52-week high, trading as high as $31.24 before last changing hands at $31.23, above its previous close of $30.97.
• The fund paid a quarterly dividend of $0.1691 per share, equivalent to an annualized $0.68 dividend and a 2.2% yield.
• Institutional interest increased, with Ameritas Advisory Services boosting its stake by 76.3%; several other investment firms also initiated or expanded positions during the second quarter.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.24 and last traded at $31.23, with a volume of 537187 shares trading hands. The stock had previously closed at $30.97.

First Trust Global Tactical Commodity Strategy Fund Stock Performance

The stock's 50 day simple moving average is $28.93 and its 200 day simple moving average is $28.43.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1691 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Global Tactical Commodity Strategy Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC boosted its stake in First Trust Global Tactical Commodity Strategy Fund by 76.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 170,168 shares of the company's stock valued at $4,603,000 after purchasing an additional 73,667 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter worth approximately $222,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter worth approximately $324,000. Coppell Advisory Solutions LLC bought a new position in shares of First Trust Global Tactical Commodity Strategy Fund in the second quarter valued at approximately $35,000. Finally, Focus Financial Network Inc. lifted its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 18.9% in the second quarter. Focus Financial Network Inc. now owns 36,073 shares of the company's stock valued at $976,000 after purchasing an additional 5,728 shares in the last quarter.

About First Trust Global Tactical Commodity Strategy Fund

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.

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