First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Hits New 1-Year High – Time to Buy?

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $133.35 and last traded at $133.44, with a volume of 5304 shares trading hands. The stock had previously closed at $132.05.

First Trust US Equity Opportunities ETF Price Performance

The company has a market capitalization of $955.72 million, a P/E ratio of 20.57 and a beta of 1.56. The stock’s 50 day moving average is $125.68 and its 200-day moving average is $113.80.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

Several institutional investors and hedge funds have recently modified their holdings of FPX. Stifel Financial Corp increased its position in shares of First Trust US Equity Opportunities ETF by 34.7% during the 3rd quarter. Stifel Financial Corp now owns 13,607 shares of the company’s stock valued at $1,499,000 after purchasing an additional 3,508 shares during the last quarter. Creative Planning boosted its stake in shares of First Trust US Equity Opportunities ETF by 71.7% during the 2nd quarter. Creative Planning now owns 7,074 shares of the company’s stock worth $703,000 after acquiring an additional 2,954 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of First Trust US Equity Opportunities ETF during the 3rd quarter valued at $39,000. Sanctuary Advisors LLC bought a new position in First Trust US Equity Opportunities ETF in the 2nd quarter worth $218,000. Finally, Captrust Financial Advisors raised its holdings in First Trust US Equity Opportunities ETF by 40.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,915 shares of the company’s stock worth $321,000 after purchasing an additional 837 shares during the period.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index.