First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Large Decline in Short Interest

First Trust Indxx NextG ETF (NASDAQ:NXTG) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 146 shares, a decline of 48.8% from the February 26th total of 285 shares. Based on an average daily trading volume, of 3,367 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

First Trust Indxx NextG ETF Stock Performance

Shares of NASDAQ:NXTG traded down $3.16 during midday trading on Thursday, hitting $110.95. The company’s stock had a trading volume of 2,479 shares, compared to its average volume of 7,212. The stock has a market capitalization of $416.06 million, a price-to-earnings ratio of 22.81 and a beta of 0.89. The stock’s 50 day simple moving average is $115.42 and its 200 day simple moving average is $109.70. First Trust Indxx NextG ETF has a fifty-two week low of $74.03 and a fifty-two week high of $120.82.

First Trust Indxx NextG ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be issued a $0.2317 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.93 dividend on an annualized basis and a yield of 0.8%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. lifted its holdings in shares of First Trust Indxx NextG ETF by 54.9% during the third quarter. Raymond James Financial Inc. now owns 130,229 shares of the company’s stock worth $13,490,000 after buying an additional 46,139 shares during the last quarter. Bank of America Corp DE grew its stake in shares of First Trust Indxx NextG ETF by 12.5% in the second quarter. Bank of America Corp DE now owns 73,111 shares of the company’s stock worth $7,113,000 after acquiring an additional 8,095 shares during the last quarter. Royal Bank of Canada increased its position in First Trust Indxx NextG ETF by 5.7% during the fourth quarter. Royal Bank of Canada now owns 66,641 shares of the company’s stock worth $7,181,000 after acquiring an additional 3,603 shares during the period. Kestra Advisory Services LLC raised its stake in First Trust Indxx NextG ETF by 2.6% during the 4th quarter. Kestra Advisory Services LLC now owns 64,006 shares of the company’s stock valued at $6,898,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in First Trust Indxx NextG ETF by 183.1% in the 3rd quarter. Susquehanna International Group LLP now owns 43,995 shares of the company’s stock valued at $4,557,000 after purchasing an additional 28,455 shares during the period.

First Trust Indxx NextG ETF Company Profile

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.