Short Interest in First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Drops By 58.9%

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 19,954 shares, a decrease of 58.9% from the July 15th total of 48,578 shares. Based on an average daily volume of 394,468 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

First Trust Nasdaq Transportation ETF Stock Up 0.1%

NASDAQ:FTXR traded up $0.03 on Friday, hitting $45.23. The stock had a trading volume of 96,870 shares, compared to its average volume of 334,921. The company has a fifty day moving average price of $44.97 and a two-hundred day moving average price of $42.32. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 11.80 and a beta of 1.29. First Trust Nasdaq Transportation ETF has a 1-year low of $33.62 and a 1-year high of $46.17.

First Trust Nasdaq Transportation ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1268 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.03.

Institutional Trading of First Trust Nasdaq Transportation ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in First Trust Nasdaq Transportation ETF by 38.2% in the fourth quarter. Royal Bank of Canada now owns 2,633 shares of the company’s stock valued at $102,000 after buying an additional 728 shares during the last quarter. Geneos Wealth Management Inc. raised its position in First Trust Nasdaq Transportation ETF by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock valued at $57,000 after purchasing an additional 1,200 shares during the period. Kestra Advisory Services LLC acquired a new position in First Trust Nasdaq Transportation ETF during the fourth quarter worth $57,000. Cetera Investment Advisers boosted its position in shares of First Trust Nasdaq Transportation ETF by 53.1% during the first quarter. Cetera Investment Advisers now owns 10,404 shares of the company’s stock worth $396,000 after buying an additional 3,607 shares during the period. Finally, Truist Financial Corp acquired a new stake in shares of First Trust Nasdaq Transportation ETF in the fourth quarter valued at $200,000.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.