First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Stock Price Up 1.6% - Here's What Happened

Key Points

• QABA shares rose 1.6% to $64.615 during mid-day trading, while trading volume fell 27% below its average daily level.
• The fund increased its quarterly dividend to $0.3585 per share, equivalent to $1.43 annually and a 2.2% yield.
• Institutional interest increased, with several firms initiating positions and Cetera Investment Advisers raising its holdings by 13%.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) was up 1.6% during mid-day trading on Thursday. The company traded as high as $64.61 and last traded at $64.6150. Approximately 6,200 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 8,545 shares. The stock had previously closed at $63.62.

First Trust NASDAQ ABA Community Bank Index Fund Stock Up 1.6%

The firm has a market capitalization of $84.00 million, a price-to-earnings ratio of 13.59 and a beta of 0.77. The company has a fifty day moving average price of $66.88 and a two-hundred day moving average price of $65.10.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a dividend of $0.3585 per share. This represents a $1.43 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 24th. This is an increase from First Trust NASDAQ ABA Community Bank Index Fund's previous quarterly dividend of $0.3497.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QABA. Envestnet Asset Management Inc. purchased a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund in the 2nd quarter worth about $303,000. Integrated Wealth Concepts LLC purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the 2nd quarter valued at about $34,000. Waverly Advisors LLC purchased a new position in First Trust NASDAQ ABA Community Bank Index Fund during the 1st quarter valued at about $204,000. Cetera Investment Advisers increased its holdings in First Trust NASDAQ ABA Community Bank Index Fund by 13.0% during the 1st quarter. Cetera Investment Advisers now owns 10,182 shares of the company's stock valued at $593,000 after acquiring an additional 1,171 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new position in First Trust NASDAQ ABA Community Bank Index Fund during the first quarter worth about $59,000.

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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