First Trust Growth Strength ETF (NASDAQ:FTGS) Stock Short Interest Jumps 77.4%

First Trust Growth Strength ETF (NASDAQ:FTGS) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 58,607 shares, a growth of 77.4% from the September 15th total of 33,039 shares. Based on an average trading volume of 153,838 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s shares are sold short.

Hedge Funds Weigh In On First Trust Growth Strength ETF

A number of hedge funds have recently added to or reduced their stakes in FTGS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in First Trust Growth Strength ETF by 9.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,563 shares of the company’s stock valued at $287,000 after purchasing an additional 675 shares during the period. Avior Wealth Management LLC purchased a new position in First Trust Growth Strength ETF in the third quarter worth $4,287,000. First Heartland Consultants Inc. acquired a new position in First Trust Growth Strength ETF during the 3rd quarter valued at about $244,000. Park National Corp OH purchased a new position in shares of First Trust Growth Strength ETF in the 3rd quarter valued at approximately $13,728,000. Finally, Private Client Services LLC purchased a new position in shares of First Trust Growth Strength ETF in the 3rd quarter valued at approximately $368,000.

First Trust Growth Strength ETF Stock Performance

FTGS stock traded up $0.13 during mid-day trading on Thursday, reaching $38.19. 8,340 shares of the stock traded hands, compared to its average volume of 131,849. The stock has a market capitalization of $1.29 billion, a PE ratio of 23.90 and a beta of 1.02. First Trust Growth Strength ETF has a one year low of $33.00 and a one year high of $40.12. The business has a 50-day moving average price of $38.76 and a two-hundred day moving average price of $37.43.

First Trust Growth Strength ETF Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a dividend of $0.0088 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%.

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.