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According to a Yahoo Finance article, U.S. banks are increasing their physical presence once again after a decade of decline post the 2008 financial crisis, with the addition of 94 net new branches in 2023. This marks the first annual growth since 2012.
Investors seeking momentum may have First Trust NASDAQ Bank ETF FTXO on radar now. The fund recently hit a new 52-week high.
Given the decent valuation of the banking sector and chances of higher net interest rate margins, investors can keep track of these ETFs for gains.
The journey this year for bank ETFs has been anything but smooth. However, the tables are probably turning for the segment as the rates are peaking and the yield curve is steepening.
First Trust Nasdaq Bank ETF is a US large-cap banking ETF with a steady dividend yield of 3.75% and a high dividend growth rate of 30%. The fund experienced a significant downturn in February 2023 due to the failure of several US banks, including Silicon Valley Bank. The fund grapples with high-concentration risk and volatility, and it also contends with declining consumer sentiment toward large-cap banks.
FAQ
- What is FTXO ETF?
- Does FTXO pay dividends?
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- What is the current assets under management for FTXO?
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