First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Sets New 52-Week High - Still a Buy?

Key Points

• FTGC reached a new 52-week high, trading as high as $30.71 and last changing hands at $30.6150, above its 50-day and 200-day moving averages of $28.66 and $28.26, respectively.
• The fund paid a quarterly dividend of $0.1691 per share, equivalent to approximately $0.68 annually and a 2.2% yield; the article characterizes this as a dividend cut.
• Institutional interest increased, with several investment firms initiating positions and others boosting their holdings, including Geneos Wealth Management, which raised its stake by 202.5%.

Shares of First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.71 and last traded at $30.6150, with a volume of 258505 shares changing hands. The stock had previously closed at $30.36.

First Trust Global Tactical Commodity Strategy Fund Price Performance

The stock has a fifty day moving average price of $28.66 and a 200 day moving average price of $28.26.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

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

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

Several hedge funds and other institutional investors have recently modified their holdings of FTGC. Coppell Advisory Solutions LLC purchased a new stake in First Trust Global Tactical Commodity Strategy Fund in the 2nd quarter worth approximately $35,000. Advisors Preferred LLC purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the 1st quarter valued at about $73,000. Ameriflex Group Inc. boosted its position in shares of First Trust Global Tactical Commodity Strategy Fund by 67.6% during the 4th quarter. Ameriflex Group Inc. now owns 3,134 shares of the company's stock valued at $73,000 after acquiring an additional 1,264 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in shares of First Trust Global Tactical Commodity Strategy Fund during the first quarter worth about $101,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 202.5% during the second quarter. Geneos Wealth Management Inc. now owns 4,296 shares of the company's stock worth $106,000 after purchasing an additional 2,876 shares in the last quarter.

First Trust Global Tactical Commodity Strategy Fund Company Profile

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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