First Trust Active Factor Mid Cap ETF (NYSEARCA:AFMC) Stock Short Interest Drops 82.3%

First Trust Active Factor Mid Cap ETF (NYSEARCA:AFMC) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 5,359 shares, a drop of 82.3% from the August 31st total of 30,286 shares. Based on an average daily volume of 18,626 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

First Trust Active Factor Mid Cap ETF Trading Up 0.5%

Shares of NYSEARCA:AFMC traded up $0.21 during trading on Friday, reaching $40.10. The company had a trading volume of 105,094 shares, compared to its average volume of 28,918. The stock has a market capitalization of $216.54 million, a P/E ratio of 13.94 and a beta of 1.01. The company has a fifty day moving average of $40.89 and a two-hundred day moving average of $39.36. First Trust Active Factor Mid Cap ETF has a 12 month low of $32.43 and a 12 month high of $42.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AFMC. Cetera Investment Advisers boosted its position in First Trust Active Factor Mid Cap ETF by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 201,579 shares of the company’s stock valued at $7,157,000 after acquiring an additional 2,029 shares in the last quarter. Private Advisor Group LLC boosted its holdings in First Trust Active Factor Mid Cap ETF by 3.7% in the first quarter. Private Advisor Group LLC now owns 162,344 shares of the company’s stock worth $5,764,000 after acquiring an additional 5,837 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of First Trust Active Factor Mid Cap ETF by 6.2% in the first quarter. Kestra Advisory Services LLC now owns 115,108 shares of the company’s stock worth $4,087,000 after acquiring an additional 6,701 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of First Trust Active Factor Mid Cap ETF by 18.5% in the second quarter. Envestnet Asset Management Inc. now owns 24,760 shares of the company’s stock worth $1,015,000 after acquiring an additional 3,869 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of First Trust Active Factor Mid Cap ETF during the second quarter valued at $808,000.

About First Trust Active Factor Mid Cap ETF

The First Trust Active Factor Mid Cap ETF (AFMC) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed portfolio of factor-focused US mid-cap companies seeking capital appreciation. AFMC was launched on Dec 3, 2019 and is managed by First Trust.