First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Stock Short Interest Report for October

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 55,330 shares, a growth of 177.4% from the October 15th total of 19,945 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average trading volume of 61,234 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in shares of First Trust Nasdaq Bank ETF by 216.2% in the 1st quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock valued at $10,758,000 after acquiring an additional 203,378 shares during the period. Arkadios Wealth Advisors acquired a new stake in First Trust Nasdaq Bank ETF during the first quarter valued at $5,704,000. Oppenheimer & Co. Inc. purchased a new position in shares of First Trust Nasdaq Bank ETF in the 3rd quarter valued at about $5,686,000. NewEdge Advisors LLC raised its stake in shares of First Trust Nasdaq Bank ETF by 84.3% during the 1st quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock worth $5,425,000 after buying an additional 68,593 shares during the period. Finally, Bank of America Corp DE lifted its holdings in First Trust Nasdaq Bank ETF by 10.5% during the first quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock valued at $10,423,000 after purchasing an additional 27,273 shares in the last quarter.

First Trust Nasdaq Bank ETF Trading Down 0.4%

FTXO opened at $40.07 on Friday. The firm has a market cap of $240.42 million, a price-to-earnings ratio of 11.99 and a beta of 0.93. The stock has a fifty day moving average price of $39.91 and a 200-day moving average price of $39.65. First Trust Nasdaq Bank ETF has a 12 month low of $33.59 and a 12 month high of $44.12.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a negative change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%.

About First Trust Nasdaq Bank ETF

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.