A look at the weighted underlying holdings of the First Trust ISE Water Index Fund (FIW) shows an impressive 10.2% of holdings on a weighted basis have experienced insider buying within the past six months.

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SJW Corp. ( SJW - Get Report), which makes up 1.22% of the First Trust ISE Water Index Fund (FIW), 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 $1,540,532 worth of SJW, making it the #32 largest holding. The table below details the recent insider buying activity observed at SJW:

SJW — last trade: $29.43 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
02/25/2015 Andrew F. Walters Chief Administrative Officer 600 $32.01 $19,206
03/26/2015 Robert A. Van Valer Director 4,619 $30.51 $140,926
03/26/2015 George E. Moss Director 16,325 $30.32 $494,989
06/05/2015 Robert A. Van Valer Director 16,000 $29.83 $477,270

And Layne Christensen Co. ( LAYN), the #35 largest holding among components of the First Trust ISE Water Index Fund (FIW), shows 3 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $1,449,874 worth of LAYN, which represents approximately 1.15% of the ETF's total assets at last check. The recent insider buying activity observed at LAYN is detailed in the table below:

LAYN — last trade: $7.96 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
06/12/2015 Michael J. Caliel President and CEO 5,000 $9.71 $48,574
06/22/2015 Nelson Obus Director 8,474 $8.09 $68,553
07/13/2015 John T. Nesser III Director 5,000 $8.70 $43,500
07/23/2015 Nelson Obus Director 5,685 $8.30 $47,182