First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Sees Large Growth in Short Interest

First Trust Innovation Leaders ETF (NYSEARCA:ILDR) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 119,149 shares, an increase of 115.3% from the April 30th total of 55,334 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average trading volume of 40,339 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ILDR. Sound Income Strategies LLC purchased a new stake in shares of First Trust Innovation Leaders ETF during the 4th quarter valued at about $40,000. Bank of America Corp DE increased its position in shares of First Trust Innovation Leaders ETF by 328.5% during the 3rd quarter. Bank of America Corp DE now owns 2,794 shares of the company’s stock valued at $90,000 after purchasing an additional 2,142 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of First Trust Innovation Leaders ETF during the 3rd quarter valued at about $113,000. Triumph Capital Management purchased a new stake in shares of First Trust Innovation Leaders ETF during the 3rd quarter valued at about $136,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of First Trust Innovation Leaders ETF during the 2nd quarter valued at about $150,000.

First Trust Innovation Leaders ETF Stock Performance

Shares of First Trust Innovation Leaders ETF stock traded up $0.32 during trading on Tuesday, hitting $40.54. The company’s stock had a trading volume of 58,908 shares, compared to its average volume of 63,922. The company has a fifty day simple moving average of $34.23 and a two-hundred day simple moving average of $33.08. The company has a market capitalization of $283.78 million, a PE ratio of 39.35 and a beta of 1.27. First Trust Innovation Leaders ETF has a 52 week low of $27.03 and a 52 week high of $40.84.

First Trust Innovation Leaders ETF Company Profile

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.