Strong Insider Buying Found in the Underlying Holdings of FDM

A look at the weighted underlying holdings of the First Trust Dow Jones Select MicroCap Index Fund (FDM) shows an impressive 20.1% of holdings on a weighted basis have experienced insider buying within the past six months.

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Lakeland Financial Corp. ( LKFN), which makes up 0.70% of the First Trust Dow Jones Select MicroCap Index Fund (FDM), has seen 3 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $395,534 worth of LKFN, making it the #21 largest holding. The table below details the recent insider buying activity observed at LKFN:

LKFN — last trade: $38.82 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
05/05/2014 Charles E. Niemier Director 552 $36.41 $20,097.38
06/03/2014 Lisa M. O'neill EVP & CFO 500 $35.95 $17,975.00
08/06/2014 M. Scott Welch Director 769 $35.95 $27,645.55
08/05/2014 Charles E. Niemier Director 555 $36.58 $20,304.34
08/08/2014 Lisa M. O'neill EVP & CFO 500 $37.38 $18,691.80

And Berkshire Hills Bancorp, Inc. ( BHLB), the #26 largest holding among components of the First Trust Dow Jones Select MicroCap Index Fund (FDM), shows 13 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $385,006 worth of BHLB, which represents approximately 0.68% of the ETF's total assets at last check. The recent insider buying activity observed at BHLB is detailed in the table below:

BHLB — last trade: $24.51 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
05/28/2014 John B. Davies Director 310 $22.90 $7,099.00
07/28/2014 Michael P. Daly President and CEO 1,065 $23.51 $25,037.95
07/25/2014 Barton D. Raser Director 830 $23.74 $19,704.20
07/28/2014 D. Jeffrey Templeton Director 500 $23.69 $11,845.00
07/28/2014 John W. Altmeyer Director 5,000 $23.55 $117,731.50
07/28/2014 Cornelius D. Mahoney Director 300 $23.73 $7,119.60
07/28/2014 Susan M. Hill Director 1,000 $23.73 $23,725.30
07/29/2014 Richard L. Murphy Director 4,110 $23.98 $98,557.39
07/28/2014 William J. Ryan Director 9,500 $23.81 $226,174.85
07/29/2014 John B. Davies Director 1,000 $24.16 $24,160.36
07/31/2014 Josephine Iannelli SVP and CAO 200 $24.43 $4,886.00
08/04/2014 Sean Gray SVP - Retail Banking 200 $23.84 $4,769.00
08/04/2014 Rodney C. Dimock Director 100 $23.75 $2,375.00
08/18/2014 Richard M. Marotta EVP and Chief Risk Officer 400 $24.32 $9,728.00

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