First Trust Natural Gas ETF (NYSEARCA:FCG) Sees Large Decline in Short Interest

First Trust Natural Gas ETF (NYSEARCA:FCG) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 159,937 shares, a decrease of 74.3% from the April 30th total of 621,883 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 947,870 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Natural Gas ETF

Several hedge funds have recently made changes to their positions in FCG. Gendell Jeffrey L lifted its position in shares of First Trust Natural Gas ETF by 396.8% during the fourth quarter. Gendell Jeffrey L now owns 943,874 shares of the company’s stock worth $22,096,000 after purchasing an additional 753,874 shares in the last quarter. Financial Sense Advisors Inc. raised its holdings in First Trust Natural Gas ETF by 370.7% in the third quarter. Financial Sense Advisors Inc. now owns 536,663 shares of the company’s stock valued at $12,606,000 after acquiring an additional 422,638 shares in the last quarter. Guardian Partners Inc. raised its holdings in First Trust Natural Gas ETF by 451.8% in the first quarter. Guardian Partners Inc. now owns 511,001 shares of the company’s stock valued at $16,240,000 after acquiring an additional 418,401 shares in the last quarter. Royal Bank of Canada raised its holdings in First Trust Natural Gas ETF by 124.1% in the first quarter. Royal Bank of Canada now owns 462,206 shares of the company’s stock valued at $14,646,000 after acquiring an additional 255,916 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in First Trust Natural Gas ETF in the third quarter valued at approximately $5,905,000.

First Trust Natural Gas ETF Stock Performance

Shares of FCG traded down $0.28 during mid-day trading on Friday, hitting $28.52. 785,834 shares of the company’s stock were exchanged, compared to its average volume of 1,258,596. The company has a market cap of $711.57 million, a price-to-earnings ratio of 10.55 and a beta of 0.49. First Trust Natural Gas ETF has a fifty-two week low of $21.76 and a fifty-two week high of $33.03. The stock’s 50-day moving average is $30.34 and its 200-day moving average is $27.01.

First Trust Natural Gas ETF Company Profile

First Trust ISE-Revere Natural Gas Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE-REVERE Natural Gas Index (the Index). The Index is an equal-weighted index consisting of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the universe of stocks listed in the United States of companies involved in the natural gas exploration and production industries and then eliminates stocks whose natural gas-proven reserves do not meet certain requirements.