Short Interest in First Trust Growth Strength ETF (NASDAQ:FTGS) Grows By 61.5%

First Trust Growth Strength ETF (NASDAQ:FTGS) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 48,732 shares, a growth of 61.5% from the July 30th total of 30,173 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 98,536 shares, the short-interest ratio is currently 0.5 days.

First Trust Growth Strength ETF Trading Down 1.4%

NASDAQ:FTGS traded down $0.56 during trading hours on Tuesday, hitting $38.68. 79,004 shares of the company were exchanged, compared to its average volume of 134,225. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 23.90 and a beta of 1.01. First Trust Growth Strength ETF has a one year low of $33.00 and a one year high of $40.12. The company has a fifty day simple moving average of $38.41 and a 200 day simple moving average of $36.74.

Hedge Funds Weigh In On First Trust Growth Strength ETF

A number of hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC bought a new stake in First Trust Growth Strength ETF in the second quarter valued at approximately $27,000. Rothschild Investment LLC acquired a new position in shares of First Trust Growth Strength ETF in the 4th quarter worth approximately $28,000. Allworth Financial LP acquired a new position in shares of First Trust Growth Strength ETF in the 3rd quarter worth approximately $32,000. Cullen Frost Bankers Inc. boosted its stake in shares of First Trust Growth Strength ETF by 58.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after purchasing an additional 385 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of First Trust Growth Strength ETF by 100.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock valued at $40,000 after purchasing an additional 557 shares during the last quarter.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.