First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Increase in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 300 shares, an increase of 200.0% from the June 15th total of 100 shares. Based on an average daily trading volume, of 22,900 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HBW Advisory Services LLC grew its stake in shares of First Trust Nasdaq Bank ETF by 16.9% in the fourth quarter. HBW Advisory Services LLC now owns 40,615 shares of the company’s stock worth $1,026,000 after acquiring an additional 5,871 shares during the last quarter. PFG Advisors purchased a new position in First Trust Nasdaq Bank ETF in the fourth quarter worth about $346,000. Secure Asset Management LLC raised its holdings in First Trust Nasdaq Bank ETF by 64.2% in the fourth quarter. Secure Asset Management LLC now owns 434,708 shares of the company’s stock worth $10,981,000 after buying an additional 170,041 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of First Trust Nasdaq Bank ETF in the fourth quarter worth approximately $1,409,000. Finally, Principal Securities Inc. purchased a new stake in shares of First Trust Nasdaq Bank ETF during the fourth quarter valued at approximately $33,000.

First Trust Nasdaq Bank ETF Price Performance

FTXO traded down $0.17 on Friday, hitting $27.61. The company had a trading volume of 19,659 shares, compared to its average volume of 38,570. First Trust Nasdaq Bank ETF has a 52-week low of $18.94 and a 52-week high of $27.84. The stock has a fifty day simple moving average of $26.55 and a 200-day simple moving average of $25.87. The firm has a market capitalization of $103.54 million, a P/E ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a $0.2216 dividend. This is a positive change from First Trust Nasdaq Bank ETF’s previous dividend of $0.11. The ex-dividend date of this dividend was Thursday, June 27th.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.