Short Interest in First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Grows By 50.7%

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 45,500 shares, an increase of 50.7% from the September 30th total of 30,200 shares. Based on an average daily volume of 22,800 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.9% of the shares of the stock are sold short. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 22,800 shares, the days-to-cover ratio is presently 2.0 days.

First Trust Indxx Aerospace & Defense ETF Trading Down 0.4%

Shares of MISL traded down $0.18 during mid-day trading on Tuesday, reaching $42.54. 14,755 shares of the stock traded hands, compared to its average volume of 25,874. The firm has a fifty day moving average price of $41.19 and a 200 day moving average price of $37.76. The company has a market cap of $219.06 million, a price-to-earnings ratio of 28.78 and a beta of 0.66. First Trust Indxx Aerospace & Defense ETF has a 1 year low of $26.46 and a 1 year high of $44.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers grew its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 2.6% during the first quarter. Cetera Investment Advisers now owns 50,689 shares of the company’s stock worth $1,535,000 after purchasing an additional 1,290 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in First Trust Indxx Aerospace & Defense ETF by 2.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 120,286 shares of the company’s stock worth $4,494,000 after buying an additional 2,569 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in First Trust Indxx Aerospace & Defense ETF in the 2nd quarter worth approximately $33,000. IFP Advisors Inc lifted its stake in First Trust Indxx Aerospace & Defense ETF by 12.7% in the first quarter. IFP Advisors Inc now owns 4,826 shares of the company’s stock worth $146,000 after purchasing an additional 545 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in First Trust Indxx Aerospace & Defense ETF by 110.3% in the first quarter. HighTower Advisors LLC now owns 46,365 shares of the company’s stock worth $1,404,000 after purchasing an additional 24,318 shares during the last quarter.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.