First Trust Water ETF (NYSEARCA:FIW) Sees Large Drop in Short Interest

First Trust Water ETF (NYSEARCA:FIW) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 7,308 shares, a decrease of 65.6% from the July 30th total of 21,272 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 35,165 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On First Trust Water ETF

Several hedge funds have recently modified their holdings of the stock. Carlson Financial Inc. grew its position in First Trust Water ETF by 21.4% during the second quarter. Carlson Financial Inc. now owns 2,576 shares of the company’s stock worth $282,000 after buying an additional 454 shares during the period. Ameritas Advisory Services LLC lifted its position in shares of First Trust Water ETF by 42.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 157,875 shares of the company’s stock valued at $17,290,000 after acquiring an additional 47,042 shares during the period. Compass Financial Management LLC purchased a new stake in shares of First Trust Water ETF during the 2nd quarter worth approximately $43,000. William John Sempolinski purchased a new stake in shares of First Trust Water ETF during the 2nd quarter worth approximately $2,913,000. Finally, Tudor Financial Inc. grew its holdings in shares of First Trust Water ETF by 118.9% in the 2nd quarter. Tudor Financial Inc. now owns 2,710 shares of the company’s stock worth $297,000 after acquiring an additional 1,472 shares during the period.

First Trust Water ETF Stock Performance

Shares of FIW stock traded down $0.45 during mid-day trading on Friday, hitting $110.47. 25,654 shares of the stock were exchanged, compared to its average volume of 54,108. The stock’s fifty day simple moving average is $109.48 and its two-hundred day simple moving average is $107.56. First Trust Water ETF has a 12-month low of $98.52 and a 12-month high of $116.30. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99.

First Trust Water ETF Company Profile

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.