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Envestnet Portfolio Solutions Inc. Expands Investment Portfolio with First Trust Dorsey Wright Focus 5 ETF and First Trust Dow 30 Equal Weight ETF

2024-06-15 07:58:38.495000

Envestnet Portfolio Solutions Inc., an institutional investor, continues to diversify its investment portfolio by acquiring 8,619 new shares of First Trust Dorsey Wright Focus 5 ETF (NASDAQ:FV) during the third quarter. The value of the acquisition is estimated to be approximately $382,000. This move demonstrates Envestnet Portfolio Solutions Inc.'s ongoing confidence in the performance of ETFs [3634bf02].

Envestnet Portfolio Solutions Inc. is not the only institutional investor making changes to their holdings of First Trust Dorsey Wright Focus 5 ETF. Other hedge funds and institutional investors have also modified their positions in the company [3634bf02].

First Trust Dorsey Wright Focus 5 ETF has a one-year low of $41.05 and a one-year high of $55.32. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 14.01, and a beta of 1.07. The firm recently declared a quarterly dividend of $0.0469 per share. First Trust Dorsey Wright Focus 5 ETF is an exchange-traded fund that invests in total market equity and is managed by First Trust [3634bf02].

Envestnet Portfolio Solutions Inc. has been actively diversifying its investment portfolio by acquiring shares of various ETFs. In addition to the recent acquisitions of iShares CMBS ETF, Schwab Short-Term U.S. Treasury ETF, SPDR Dow Jones Industrial Average ETF Trust, and First Trust S&P International Dividend Aristocrats ETF, the company's investment in First Trust Dorsey Wright Focus 5 ETF further strengthens its position in the ETF market. This strategic move reflects Envestnet Portfolio Solutions Inc.'s commitment to exploring different investment opportunities and optimizing its portfolio for long-term growth [7923f4ab].

Envestnet Portfolio Solutions Inc. has also expanded its investment portfolio by purchasing 8,817 shares of First Trust Dow 30 Equal Weight ETF (NYSEARCA:EDOW) during the third quarter. The value of this acquisition is estimated to be approximately $256,000. This demonstrates Envestnet Portfolio Solutions Inc.'s continued interest in diversifying its holdings and investing in ETFs [0de03423].

Other large investors, including Kestra Advisory Services LLC, UBS Group AG, J Arnold Wealth Management Co, D.A. Davidson & CO., and Sigma Planning Corp, have also recently bought shares of First Trust Dow 30 Equal Weight ETF. First Trust Dow 30 Equal Weight ETF has a 52-week low of $27.93 and a 52-week high of $33.86. The stock has a market capitalization of $253.42 million and a price-to-earnings ratio of 15.07. The fund tracks an equal-weighted index of companies included in the Dow Jones Industrial Average and is managed by First Trust [0de03423].

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) experienced a significant increase in short interest during May. The short interest grew by 33.3% from May 15th to May 31st, totaling 1,200 shares. The short-interest ratio is currently 0.1 days based on an average daily volume of 11,500 shares. The fund's stock price opened at $65.03 on Friday, with a 12-month low of $51.39 and a 12-month high of $67.69. First Trust Small Cap Growth AlphaDEX Fund has a market cap of $266.62 million, a price-to-earnings ratio of 15.06, and a beta of 1.19. Institutional investors and hedge funds have made changes to their positions in the company, with Comerica Bank increasing its stake by 28.7% and CWM LLC increasing its stake by 22.7%. The First Trust Small Cap Growth AlphaDEX Fund is an exchange-traded fund based on the NASDAQ AlphaDEX Small Cap Growth index, launched on April 18, 2011, and managed by First Trust.

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