First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Shares Shorted: Short Interest Down 42.7% in September

by · The Markets Daily

First Trust Nasdaq Bank ETF (NASDAQ:FTXO – Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 38,096 shares, a decline of 42.7% from the September 15th total of 66,465 shares. Based on an average daily trading volume, of 168,367 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.6% of the company’s stock are sold short.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

A number of large investors have recently modified their holdings of the business. Puff Wealth Management LLC purchased a new position in shares of First Trust Nasdaq Bank ETF in the 2nd quarter valued at approximately $786,000. NewEdge Advisors LLC boosted its stake in First Trust Nasdaq Bank ETF by 84.3% in the 1st quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock worth $5,425,000 after purchasing an additional 68,593 shares in the last quarter. Royal Bank of Canada boosted its stake in 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 worth $10,758,000 after purchasing an additional 203,378 shares in the last quarter. World Investment Advisors grew its position in First Trust Nasdaq Bank ETF by 47.0% during the 1st quarter. World Investment Advisors now owns 51,789 shares of the company’s stock worth $1,873,000 after purchasing an additional 16,561 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in First Trust Nasdaq Bank ETF during the 1st quarter worth approximately $5,704,000.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ:FTXO traded up $0.20 during mid-day trading on Friday, hitting $38.83. 78,139 shares of the company’s stock traded hands, compared to its average volume of 452,331. The company has a fifty day moving average of $41.01 and a 200 day moving average of $40.26. First Trust Nasdaq Bank ETF has a twelve month low of $33.24 and a twelve month high of $44.12. The company has a market capitalization of $248.51 million, a P/E ratio of 11.56 and a beta of 0.92.

First Trust Nasdaq Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a $0.21 dividend. This is a drop from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572. This represents a $0.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 24th.

First Trust Nasdaq Bank ETF Company Profile

(Get Free Report)

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.

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