First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Shares Down 0.7% - What's Next?

Key Points

• QABA shares fell 0.7% to $66.095 during Tuesday’s trading, with volume 61% below the average session level.
• The ETF increased its quarterly dividend to $0.3497, equivalent to an annualized payout of approximately $1.40 and a 2.1% yield.
• Several institutional investors recently initiated or expanded positions, including Cetera Investment Advisers, which increased its holdings by 13%.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) shares were down 0.7% during mid-day trading on Tuesday . The company traded as low as $66.04 and last traded at $66.0950. 3,577 shares were traded during trading, a decline of 61% from the average session volume of 9,083 shares. The stock had previously closed at $66.57.

First Trust NASDAQ ABA Community Bank Index Fund Trading Down 0.7%

The firm's fifty day moving average price is $68.32 and its 200 day moving average price is $64.21. The firm has a market capitalization of $95.84 million, a PE ratio of 13.59 and a beta of 0.74.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a $0.3497 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust NASDAQ ABA Community Bank Index Fund's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 2.1%.

Institutional Investors Weigh In On First Trust NASDAQ ABA Community Bank Index Fund

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund during the 2nd quarter valued at approximately $34,000. Waverly Advisors LLC purchased a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter worth $204,000. Cetera Investment Advisers boosted its holdings in First Trust NASDAQ ABA Community Bank Index Fund by 13.0% during the first quarter. Cetera Investment Advisers now owns 10,182 shares of the company's stock worth $593,000 after buying an additional 1,171 shares in the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter valued at $59,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the fourth quarter valued at $75,000.

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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