First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 15,389 shares, a drop of 59.7% from the May 31st total of 38,160 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 108,581 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Nasdaq Bank ETF Trading Down 0.0%

NASDAQ FTXO traded down $0.01 during trading on Monday, reaching $41.60. The company’s stock had a trading volume of 215,581 shares, compared to its average volume of 679,434. The stock has a market capitalization of $351.52 million, a PE ratio of 11.56 and a beta of 0.90. First Trust Nasdaq Bank ETF has a 1-year low of $32.57 and a 1-year high of $42.21. The business has a 50-day moving average price of $39.05 and a 200-day moving average price of $38.30.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.2572 per share. The ex-dividend date is Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

A number of large investors have recently bought and sold shares of FTXO. Royal Bank of Canada increased its position in First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after buying an additional 203,378 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of First Trust Nasdaq Bank ETF in the first quarter worth about $5,704,000. Oppenheimer & Co. Inc. bought a new stake in shares of First Trust Nasdaq Bank ETF during the 4th quarter worth about $4,465,000. NewEdge Advisors LLC boosted its stake in shares of First Trust Nasdaq Bank ETF by 84.3% during the 1st quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock worth $5,425,000 after acquiring an additional 68,593 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of First Trust Nasdaq Bank ETF by 17.1% during the 4th 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.

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.