A look at the weighted underlying holdings of the First Trust Dow Jones Select MicroCap Index Fund (FDM) shows an impressive 14.5% of holdings on a weighted basis have experienced insider buying within the past six months.

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Gray Television Inc ( GTN - Get Report), which makes up 0.46% of the First Trust Dow Jones Select MicroCap Index Fund (FDM), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $417,498 worth of GTN, making it the #90 largest holding. The table below details the recent insider buying activity observed at GTN:

GTN — last trade: $10.51 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
11/27/2013 Robin Robinson Howell Director 5,800 $10.61 $61,534.00
11/27/2013 Hilton H. Howell Jr. Chairman & CEO 5,800 $10.61 $61,534.00
12/03/2013 Robin Robinson Howell Director 1,000 $10.04 $10,040.00
12/03/2013 Hilton H. Howell Jr. Chairman & CEO 1,000 $10.04 $10,040.00
12/10/2013 Robin Robinson Howell Director 1,000 $10.69 $10,690.00
12/10/2013 Hilton H. Howell Jr. Chairman & CEO 1,000 $10.69 $10,690.00

And Alamo Group, Inc. ( ALG), the #117 largest holding among components of the First Trust Dow Jones Select MicroCap Index Fund (FDM), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $342,105 worth of ALG, which represents approximately 0.38% of the ETF's total assets at last check. The recent insider buying activity observed at ALG is detailed in the table below:

ALG — last trade: $55.68 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
03/20/2014 Gary L. Martin Director 500 $58.10 $29,051.25
03/28/2014 Roderick R. Baty Director 2,000 $50.77 $101,540.00