First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Large Decline in Short Interest

First Trust Growth Strength ETF (NASDAQ:FTGS) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 33,039 shares, a decrease of 56.9% from the August 31st total of 76,693 shares. Based on an average daily volume of 90,905 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

First Trust Growth Strength ETF Stock Performance

Shares of FTGS traded down $0.29 during mid-day trading on Monday, hitting $38.04. The company’s stock had a trading volume of 33,909 shares, compared to its average volume of 132,013. First Trust Growth Strength ETF has a one year low of $33.00 and a one year high of $40.12. The firm has a market capitalization of $1.29 billion, a PE ratio of 23.90 and a beta of 1.01. The stock’s 50-day moving average is $38.69 and its two-hundred day moving average is $37.09.

First Trust Growth Strength ETF Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be issued a $0.0088 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%.

Institutional Trading of First Trust Growth Strength ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in shares of First Trust Growth Strength ETF by 2.7% in the fourth quarter. LPL Financial LLC now owns 5,380,375 shares of the company’s stock valued at $190,200,000 after buying an additional 141,697 shares during the period. Cetera Investment Advisers increased its stake in First Trust Growth Strength ETF by 3.2% during the first quarter. Cetera Investment Advisers now owns 1,490,187 shares of the company’s stock valued at $50,734,000 after acquiring an additional 46,709 shares during the period. Envestnet Asset Management Inc. raised its holdings in First Trust Growth Strength ETF by 9.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,085,460 shares of the company’s stock valued at $40,164,000 after acquiring an additional 92,206 shares in the last quarter. Royal Bank of Canada raised its holdings in First Trust Growth Strength ETF by 16.6% in the 1st quarter. Royal Bank of Canada now owns 514,094 shares of the company’s stock valued at $17,503,000 after acquiring an additional 73,363 shares in the last quarter. Finally, Hobart Private Capital LLC lifted its position in shares of First Trust Growth Strength ETF by 5.5% in the 2nd quarter. Hobart Private Capital LLC now owns 425,915 shares of the company’s stock worth $15,760,000 after acquiring an additional 22,326 shares during the period.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.