Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Rises By 2,523.5%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 961,921 shares, a growth of 2,523.5% from the February 12th total of 36,665 shares. Currently, 13.7% of the company’s shares are short sold. Based on an average daily trading volume, of 4,278,502 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 4,278,502 shares, the short-interest ratio is presently 0.2 days. Currently, 13.7% of the company’s shares are short sold.

First Trust Nasdaq Bank ETF Stock Performance

Shares of First Trust Nasdaq Bank ETF stock opened at $35.91 on Wednesday. The stock has a 50 day moving average of $38.63 and a 200 day moving average of $36.74. The firm has a market capitalization of $251.37 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. First Trust Nasdaq Bank ETF has a fifty-two week low of $25.05 and a fifty-two week high of $41.57.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a dividend of $0.228 per share. The ex-dividend date was Friday, December 12th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17.

Institutional Trading of First Trust Nasdaq Bank ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in First Trust Nasdaq Bank ETF in the fourth quarter valued at about $4,465,000. Wells Fargo & Company MN increased its position in shares of First Trust Nasdaq Bank ETF by 17.1% during the fourth quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock valued at $16,970,000 after acquiring an additional 65,420 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of First Trust Nasdaq Bank ETF in the 2nd quarter valued at approximately $1,984,000. Goldman Sachs Group Inc. raised its stake in shares of First Trust Nasdaq Bank ETF by 282.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 76,799 shares of the company’s stock valued at $2,902,000 after acquiring an additional 56,699 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 220.0% in the 4th quarter. NewEdge Advisors LLC now owns 81,407 shares of the company’s stock worth $3,076,000 after acquiring an additional 55,971 shares during the last quarter.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.