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Highlights
- Janney Montgomery Scott LLC reduced its stake in FICS by 24% during the fourth quarter.
- hedge funds have adjusted their positions, with JPMorgan Chase & Co. significantly increasing its stake.
- The ETF has a market cap of $170 million and recently announced a dividend payment.
During the fourth quarter, Janney Montgomery Scott LLC reduced its holdings in First Trust International Developed Capital Strength ETF (NASDAQ:FICS) by nearly a quarter. According to a Form 13F filing with the Securities & Exchange Commission, the institution sold over 16,000 shares, resulting in a total ownership of approximately 50,000 shares valued at about $1.7 million. The ETF now represents 1.07% of the firm's portfolio.
Hedge Fund Position Adjustments
Several hedge funds have modified their positions in FICS. Nations Financial Group Inc. IA ADV saw an increase in its stake, with an additional 2.2% acquired during the third quarter, bringing its total shares to just under 19,000, valued at $711,000. JPMorgan Chase & Co. took a more significant step by increasing its stake by nearly 60%, holding approximately 1,250 shares valued at $47,000. Similarly, World Equity Group Inc. raised its position by 2.4%, acquiring additional shares, bringing its total to nearly 64,000 shares valued at approximately $2.4 million.
Dividend Payout and Financial Performance
The First Trust International Developed Capital Strength ETF recently declared a dividend payout of $0.188 per share as of December 31st. The ETF's performance metrics include a market capitalization of around $170 million, a price-to-earnings ratio of just over 17, and a beta of 0.84. The ETF has seen a stock price fluctuation over the past year, ranging between a low and a high point. Currently, the ETF trades at just above $35, with its moving averages reflecting a stable pattern over the past several months.
Investment Strategy
First Trust International Developed Capital Strength ETF primarily targets total market equity and aims to mirror the performance of the International Developed Capital Strength Index. The ETF’s strategy involves providing exposure to robust international markets, focusing on companies with strong capital fundamentals. The fund’s design takes into account various market conditions and economic environments to offer a stable vehicle in developed international markets.
Broader Hedge Fund Involvement
Aside from JPMorgan Chase & Co. and Nations Financial Group, other hedge funds like DHJJ Financial Advisors Ltd. and Gladstone Institutional Advisory LLC have also adjusted their positions in the ETF. DHJJ Financial Advisors increased its holdings by over 14%, while Gladstone boosted its shares by over 20%. These moves reflect an ongoing response to shifts in the market and capital strength opportunities across international markets.
