First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Stock Short Interest Falls 94.8%

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 3,047 shares, a drop of 94.8% from the September 30th total of 58,335 shares. Based on an average trading volume of 5,148 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On First Trust Bloomberg Emerging Market Democracies ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhodes Investment Advisors Inc. ADV acquired a new position in shares of First Trust Bloomberg Emerging Market Democracies ETF during the 3rd quarter valued at about $267,000. Envestnet Asset Management Inc. boosted its position in shares of First Trust Bloomberg Emerging Market Democracies ETF by 40.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,684 shares of the company’s stock worth $980,000 after acquiring an additional 6,485 shares during the last quarter. NI Acquisitions Company LLC acquired a new stake in shares of First Trust Bloomberg Emerging Market Democracies ETF in the second quarter worth approximately $1,406,000. Finally, Compass Financial Management LLC acquired a new stake in shares of First Trust Bloomberg Emerging Market Democracies ETF in the second quarter worth approximately $2,853,000.

First Trust Bloomberg Emerging Market Democracies ETF Stock Down 3.3%

EMDM stock traded down $1.30 during midday trading on Monday, hitting $38.29. The company’s stock had a trading volume of 163,414 shares, compared to its average volume of 10,660. First Trust Bloomberg Emerging Market Democracies ETF has a 52-week low of $28.54 and a 52-week high of $45.03. The firm has a market capitalization of $40.20 million, a P/E ratio of 12.05 and a beta of 0.89. The firm has a 50-day simple moving average of $41.90 and a 200-day simple moving average of $39.63.

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.