Short Interest in First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Drops By 66.4%

First Trust Innovation Leaders ETF (NYSEARCA:ILDR) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 40,044 shares, a decline of 66.4% from the May 14th total of 119,149 shares. Based on an average daily trading volume, of 35,577 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On First Trust Innovation Leaders ETF

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new stake in First Trust Innovation Leaders ETF in the fourth quarter worth $40,000. Bank of America Corp DE increased its position in First Trust Innovation Leaders ETF by 328.5% in the third quarter. Bank of America Corp DE now owns 2,794 shares of the company’s stock worth $90,000 after purchasing an additional 2,142 shares during the last quarter. Triumph Capital Management bought a new stake in First Trust Innovation Leaders ETF in the third quarter worth $136,000. Geneos Wealth Management Inc. bought a new stake in First Trust Innovation Leaders ETF in the second quarter worth $150,000. Finally, Fifth Third Bancorp increased its position in First Trust Innovation Leaders ETF by 690.2% in the first quarter. Fifth Third Bancorp now owns 5,152 shares of the company’s stock worth $153,000 after purchasing an additional 4,500 shares during the last quarter.

First Trust Innovation Leaders ETF Price Performance

Shares of ILDR stock traded down $0.21 during mid-day trading on Friday, hitting $37.73. The company had a trading volume of 38,647 shares, compared to its average volume of 63,896. First Trust Innovation Leaders ETF has a 52-week low of $27.49 and a 52-week high of $40.84. The stock’s 50 day moving average price is $35.82 and its 200-day moving average price is $33.47. The company has a market capitalization of $264.11 million, a P/E ratio of 39.35 and a beta of 1.29.

First Trust Innovation Leaders ETF Company Profile

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.