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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 41,625 shares, an increase of 1,667.5% from the July 30th total of 2,355 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 65,429 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

A number of hedge funds have recently added to or reduced their stakes in FTXO. Oppenheimer & Co. Inc. bought a new position in shares of First Trust Nasdaq Bank ETF in the 4th quarter worth approximately $4,465,000. NewEdge Advisors LLC boosted its holdings in shares of First Trust Nasdaq Bank ETF by 66.3% in the first quarter. NewEdge Advisors LLC now owns 135,378 shares of the company’s stock worth $4,897,000 after buying an additional 53,971 shares during the last quarter. Beto Financial Group LLC bought a new position in First Trust Nasdaq Bank ETF in the fourth quarter worth approximately $526,000. World Investment Advisors raised its position in First Trust Nasdaq Bank ETF by 47.0% in the first quarter. World Investment Advisors now owns 51,789 shares of the company’s stock worth $1,873,000 after acquiring an additional 16,561 shares during the period. Finally, Puff Wealth Management LLC bought a new position in First Trust Nasdaq Bank ETF in the second quarter worth approximately $786,000.

First Trust Nasdaq Bank ETF Stock Up 0.3%

FTXO opened at $42.03 on Thursday. The firm has a 50 day moving average price of $42.26 and a 200-day moving average price of $39.50. First Trust Nasdaq Bank ETF has a twelve month low of $32.90 and a twelve month high of $44.12. The stock has a market capitalization of $304.72 million, a price-to-earnings ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.2572 dividend. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a yield of 2.4%.

First Trust Nasdaq Bank ETF Company Profile

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.