First Trust Indxx Medical Devices ETF (BATS:MDEV) Trading 2.3% Higher – Should You Buy?

First Trust Indxx Medical Devices ETF (BATS:MDEV)’s share price shot up 2.3% during mid-day trading on Wednesday . The company traded as high as $19.00 and last traded at $19.04. 255 shares changed hands during trading, a decline of 68% from the average session volume of 789 shares. The stock had previously closed at $18.62.

First Trust Indxx Medical Devices ETF Price Performance

The stock’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $21.05. The firm has a market cap of $1.90 million, a PE ratio of 30.48 and a beta of 1.09.

Hedge Funds Weigh In On First Trust Indxx Medical Devices ETF

An institutional investor recently raised its position in First Trust Indxx Medical Devices ETF stock. Jane Street Group LLC lifted its position in First Trust Indxx Medical Devices ETF (BATS:MDEV) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,707 shares of the company’s stock after purchasing an additional 1,521 shares during the quarter. Jane Street Group LLC owned about 15.80% of First Trust Indxx Medical Devices ETF worth $487,000 as of its most recent SEC filing.

About First Trust Indxx Medical Devices ETF

The First Trust Indxx Global Medical Devices ETF (MDEV) is an exchange-traded fund that is based on the Indxx Global Medical Equipment index. The fund tracks an equal-weighted index that gives global exposure to the medical equipment industry. MDEV was launched on Jun 22, 2021 and is managed by First Trust.