On April 7, 2023, Boenning & Scattergood Inc. filed a recent buying activity report with the Securities & Exchange Commission that revealed the purchase of a new position in First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR). The fund invested in 4,225 shares valued at $224,000 during the last quarter.
First Trust NASDAQ Cybersecurity ETF is an index-based exchange-traded fund (ETF) that offers exposure to companies across various industries involved in cybersecurity-related services and products. With the increase in cyber threats facing businesses today, investing in such an ETF offers a potentially lucrative opportunity for investors looking for diversified tech sector options.
Boenning & Scattergood Inc., founded in 1914, is a full-service brokerage firm providing investment banking, equity research, institutional sales and trading and retail securities brokerage services through more than thirty offices scattered across Pennsylvania, New York City and Virginia. As part of its investment strategy, the financial services company seeks opportunities for growth through diverse investments in various sectors.
The move by Boenning & Scattergood Inc. to acquire shares of First Trust NASDAQ Cybersecurity ETF reflects its outlook on the cybersecurity industry as one with high potential for growth. The increasing number of high-profile cyber attacks on corporations and government agencies further validates this view as companies scramble to secure their networks against such threats.
Furthermore, given that most businesses now operate virtually due to widespread remote working arrangements brought about by the Covid-19 pandemic, there is an increased demand for cybersecurity products and related services. This presents an opportune moment for investors looking to stake positions on companies positioned to benefit from this trend.
In conclusion, Boenning & Scattergood Inc.’s new position purchase in First Trust NASDAQ Cybersecurity ETF represents a wise investment choice with its potential for delivering robust returns in the current economic climate. With companies grappling with insurmountable breaches of their networks every day, cybersecurity promises to be a lucrative market for investors who want exposure in the technology sector.
Investors Show Growing Interest in First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR)
The world has never been more connected than it is right now. With the rise of technology, we are able to communicate with people from all over the world and carry out transactions instantaneously. This level of connectivity, however, comes with its fair share of risks.
Cybersecurity has become a hot topic in recent years as more and more data breaches have occurred. Companies that fail to protect themselves risk their reputation and financial stability. It’s no surprise then that investors have taken an interest in companies like First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR).
Several large investors have recently made changes to their positions in the company. UBS Group AG, one of the world’s largest investment banks, grew its holdings in CIBR by 8.3% in the third quarter of 2022, bringing its total ownership to over 5 million shares valued at $202 million. American Financial Advisors LLC followed suit, purchasing a new stake in CIBR valued at $10 million.
Royal Bank of Canada also increased its holdings in CIBR, buying an additional 221,644 shares in the third quarter of 2022. The bank now owns over 2 million shares valued at $81.5 million. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in CIBR worth $7.6 million.
Finally, Miracle Mile Advisors LLC joined the fold, purchasing a new stake in CIBR worth $7 million during the fourth quarter of 2022.
Shares of CIBR opened at $42 on Friday, with a market cap of $4.77 billion and a P/E ratio of 23.41. The stock has a beta value of 1.00 and has seen highs and lows throughout the year – hitting a low of $36 and a high of $53.
For those considering investing in First Trust NASDAQ Cybersecurity ETF, it’s important to note the growing interest in the company from large investors. It may be worth investigating further with the latest 13F filings available on HoldingsChannel.com, which can provide valuable insight into insider trades and holdings. As we move forward in a world that is increasingly digital, cybersecurity should remain at the forefront of our minds – and investors are taking notice.