First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Short Interest Down 92.7% in May

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 2,057 shares, a drop of 92.7% from the April 30th total of 28,283 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,834,843 shares, the days-to-cover ratio is presently 0.0 days.

First Trust Indxx Aerospace & Defense ETF Price Performance

MISL stock traded up $1.31 during mid-day trading on Thursday, reaching $49.19. The company had a trading volume of 137,302 shares, compared to its average volume of 529,894. The stock has a 50 day simple moving average of $45.73 and a two-hundred day simple moving average of $45.63. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 28.78 and a beta of 0.61. First Trust Indxx Aerospace & Defense ETF has a 52 week low of $34.09 and a 52 week high of $51.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new position in shares of First Trust Indxx Aerospace & Defense ETF during the 4th quarter worth approximately $30,000. Pinnacle Bancorp Inc. bought a new position in shares of First Trust Indxx Aerospace & Defense ETF during the 1st quarter worth approximately $36,000. Arax Advisory Partners bought a new position in shares of First Trust Indxx Aerospace & Defense ETF during the 4th quarter worth approximately $37,000. Advisory Services Network LLC bought a new position in shares of First Trust Indxx Aerospace & Defense ETF during the 3rd quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of First Trust Indxx Aerospace & Defense ETF by 500.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,200 shares of the company’s stock worth $36,000 after acquiring an additional 1,000 shares during the period.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.