First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Increase in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 105,500 shares, a growth of 105,400.0% from the October 31st total of 100 shares. Based on an average daily trading volume, of 41,500 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of First Trust Nasdaq Bank ETF

Hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC raised its holdings in shares of First Trust Nasdaq Bank ETF by 62.5% during the first quarter. Cetera Advisors LLC now owns 28,473 shares of the company’s stock valued at $773,000 after purchasing an additional 10,949 shares during the period. Jane Street Group LLC bought a new stake in shares of First Trust Nasdaq Bank ETF during the third quarter worth about $271,000. PFG Advisors raised its stake in shares of First Trust Nasdaq Bank ETF by 21.6% in the second quarter. PFG Advisors now owns 38,288 shares of the company’s stock worth $1,016,000 after purchasing an additional 6,809 shares during the last quarter. International Assets Investment Management LLC purchased a new position in First Trust Nasdaq Bank ETF during the 2nd quarter worth $98,000. Finally, Tyler Stone Wealth Management raised its holdings in shares of First Trust Nasdaq Bank ETF by 68.1% in the third quarter. Tyler Stone Wealth Management now owns 7,882 shares of the company’s stock valued at $229,000 after purchasing an additional 3,193 shares during the last quarter.

First Trust Nasdaq Bank ETF Price Performance

Shares of FTXO traded down $0.14 during trading hours on Wednesday, hitting $35.14. 29,563 shares of the stock were exchanged, compared to its average volume of 37,702. First Trust Nasdaq Bank ETF has a fifty-two week low of $21.62 and a fifty-two week high of $35.58. The business has a 50-day moving average of $31.05 and a 200-day moving average of $28.80. The firm has a market capitalization of $119.48 million, a P/E ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.1796 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, September 26th.

First Trust Nasdaq Bank ETF Company Profile

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.