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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 6,786 shares, a drop of 91.7% from the June 30th total of 81,961 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 97,257 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Nasdaq Bank ETF Trading Up 0.6%

Shares of NASDAQ FTXO traded up $0.26 during mid-day trading on Friday, reaching $42.37. The company had a trading volume of 88,346 shares, compared to its average volume of 603,217. The stock has a market cap of $305.06 million, a PE ratio of 11.56 and a beta of 0.89. The company has a 50-day moving average price of $40.48 and a two-hundred day moving average price of $38.86. First Trust Nasdaq Bank ETF has a 1-year low of $32.57 and a 1-year high of $43.21.

First Trust Nasdaq Bank ETF Increases Dividend

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

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

A number of institutional investors have recently bought and sold shares of FTXO. Comerica Bank purchased a new stake in First Trust Nasdaq Bank ETF during the first quarter valued at about $28,000. Fifth Third Bancorp acquired a new position in shares of First Trust Nasdaq Bank ETF in the first quarter worth about $30,000. JPMorgan Chase & Co. purchased a new position in shares of First Trust Nasdaq Bank ETF in the third quarter worth approximately $37,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of First Trust Nasdaq Bank ETF in the fourth quarter worth approximately $37,000. Finally, NBC Securities Inc. increased its position in shares of First Trust Nasdaq Bank ETF by 22.5% in the fourth quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after acquiring an additional 301 shares in the last quarter.

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.