First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Sees Large Growth in Short Interest

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 6,767 shares, an increase of 71.1% from the May 14th total of 3,955 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 8,718 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On First Trust Bloomberg Emerging Market Democracies ETF

A hedge fund recently raised its stake in First Trust Bloomberg Emerging Market Democracies ETF stock. Naples Global Advisors LLC grew its holdings in shares of First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,601 shares of the company’s stock after buying an additional 1,710 shares during the quarter. Naples Global Advisors LLC owned 11.32% of First Trust Bloomberg Emerging Market Democracies ETF worth $1,774,000 as of its most recent SEC filing.

First Trust Bloomberg Emerging Market Democracies ETF Stock Up 2.1%

Shares of First Trust Bloomberg Emerging Market Democracies ETF stock traded up $0.92 on Wednesday, hitting $44.52. 1,949 shares of the company’s stock traded hands, compared to its average volume of 8,744. The stock has a market cap of $26.71 million, a P/E ratio of 12.05 and a beta of 0.85. The firm’s 50-day moving average is $40.69 and its 200 day moving average is $36.51. First Trust Bloomberg Emerging Market Democracies ETF has a 52-week low of $24.21 and a 52-week high of $44.52.

First Trust Bloomberg Emerging Market Democracies ETF Company Profile

The First Trust Exchange-Traded Fun (EMDM) is an exchange-traded fund that mostly invests in total market equity. The fund follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization. EMDM was launched on Mar 2, 2023 and is managed by First Trust.