Drake's Share Sale: Drake & Associates, LLC sold 533,049 shares of the First Trust Smith Opportunistic Fixed Income ETF (FIXD), resulting in a $23.45 million reduction in their position, which now represents only 0.39% of the fund's assets under management (AUM).
Performance Comparison: The FIXD ETF has underperformed the S&P 500, returning 6% over the past year compared to the S&P's 18%, with a current annualized dividend yield of 4.28%.
Investment Strategy Shift: Drake initiated a significant stake in the Putnam Focused Large Cap Value ETF, indicating a potential shift in investment strategy towards undervalued U.S. large-cap stocks.
Market Context: The FIXD ETF primarily invests in fixed-income securities, which are generally lower risk but have lagged behind the explosive growth of technology stocks, contributing to its underperformance relative to the broader market.
Wall Street analysts forecast FIXD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FIXD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast FIXD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FIXD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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0 Sell
Current: 44.200
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Current: 44.200
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
