Cornerstone Wealth Management Reduces Stake in First Trust US Equity Opportunities ETF

Cornerstone Wealth Management LLC has reduced its holdings in the First Trust US Equity Opportunities ETF (NYSEARCA:FPX) by 2.4% in the third quarter, according to recent reports. After selling 150 shares during the quarter, the institutional investor now owns a total of 6,053 shares of the ETF. At the end of the last quarter, the value of Cornerstone's holdings in the First Trust US Equity Opportunities ETF was approximately $667,000.

In addition to Cornerstone, several other investment firms have also adjusted their positions in the ETF. For example, Impact Partnership Wealth LLC increased its stake by 3.2% in the second quarter, acquiring an additional 149 shares to hold a total of 4,736 shares valued at about $470,000. Similarly, RFG Advisory LLC raised its ownership by 4.6%, purchasing 168 additional shares to reach a total of 3,799 shares with a value of $377,000. Mather Group LLC also entered the ETF market, buying a new stake worth $26,000 in the first quarter. Furthermore, Clarus Wealth Advisors expanded its holdings by 5.1% in the third quarter, increasing their shares to 7,702, valued at $849,000 after securing 373 additional shares.

Lastly, International Assets Investment Management LLC entered the ETF space during the second quarter with a new investment valued at approximately $62,000.

Current Trading Details for FPX

As of Friday, FPX stock opened at $114.55. Over the past year, the ETF has seen a low of $75.74 and a high of $115.00. The current 50-day moving average is at $105.73, while the two-hundred day moving average is at $102.20. The ETF has a market capitalization of around $836.24 million, a price-to-earnings ratio of 20.57, and a beta of 1.56, reflecting its volatility compared to the broader market.

Overview of First Trust US Equity Opportunities ETF

The First Trust US IPO Index Fund, commonly known as the First Trust US Equity Opportunities ETF, aims to provide investment results that closely mirror the performance of an equity index named the IPOX-100 U.S. Index. Typically, the fund invests at least 90% of its assets in the common stocks that make up this index. The IPOX-100 U.S. Index is designed as a modified value-weighted price index that tracks the performance of the top 100 U.S. companies ranked quarterly by market capitalization from the IPOX Global Composite Index.

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For more insights into holdings in FPX and other investment opportunities, you can check relevant financial news sources.

Cornerstone, Investment, ETF