First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sees Significant Drop in Short Interest

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 4,208 shares, a decline of 41.5% from the September 30th total of 7,198 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 25,862 shares, the short-interest ratio is presently 0.2 days.

First Trust US Equity Opportunities ETF Stock Performance

Shares of NYSEARCA:FPX traded down $4.92 during trading on Friday, reaching $169.24. 21,841 shares of the stock traded hands, compared to its average volume of 36,173. The stock has a 50-day moving average of $178.07 and a two-hundred day moving average of $177.95. First Trust US Equity Opportunities ETF has a 52-week low of $146.01 and a 52-week high of $206.18. The stock has a market cap of $1.35 billion, a P/E ratio of 32.81 and a beta of 1.29.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FPX. Rockefeller Capital Management L.P. raised its stake in shares of First Trust US Equity Opportunities ETF by 5.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,738 shares of the company’s stock worth $448,000 after purchasing an additional 139 shares during the last quarter. Montgomery Financial Services LLC purchased a new stake in shares of First Trust US Equity Opportunities ETF during the second quarter valued at $29,000. Atlas Private Wealth Advisors increased its holdings in First Trust US Equity Opportunities ETF by 5.1% in the 3rd quarter. Atlas Private Wealth Advisors now owns 3,079 shares of the company’s stock worth $549,000 after buying an additional 150 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in First Trust US Equity Opportunities ETF by 51.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 529 shares of the company’s stock worth $87,000 after buying an additional 179 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in First Trust US Equity Opportunities ETF in the 1st quarter worth about $32,000.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.