A look at the weighted underlying holdings of the First Trust ISE Water Index Fund (FIW) shows an impressive 19.3% of holdings on a weighted basis have experienced insider buying within the past six months.

10 ETFs With Stocks That Insiders Are Buying »

Energy Recovery Inc ( ERII - Get Report), which makes up 5.58% of the First Trust ISE Water Index Fund (FIW), 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 $5,741,578 worth of ERII, making it the #2 largest holding. The table below details the recent insider buying activity observed at ERII:

ERII — last trade: $7.07 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
11/13/2015 Chris M. Gannon CFO 6,306 $7.54 $47,522
12/15/2015 Juan Otero Gen Counsel,CCO,Corp Secretary 6,715 $7.04 $47,270