Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Decreases By 91.7%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 6,786 shares, a decrease of 91.7% from the June 30th total of 81,961 shares. Based on an average daily trading volume, of 97,257 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in First Trust Nasdaq Bank ETF by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock worth $16,970,000 after purchasing an additional 65,420 shares during the last quarter. Royal Bank of Canada increased its holdings in First Trust Nasdaq Bank ETF by 216.2% in the 1st quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after acquiring an additional 203,378 shares in the last quarter. Bank of America Corp DE boosted its position in shares of First Trust Nasdaq Bank ETF by 10.5% in the first quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock worth $10,423,000 after purchasing an additional 27,273 shares during the period. Raymond James Financial Inc. increased its stake in shares of First Trust Nasdaq Bank ETF by 22.6% in the third quarter. Raymond James Financial Inc. now owns 198,974 shares of the company’s stock worth $7,085,000 after purchasing an additional 36,648 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its stake in shares of First Trust Nasdaq Bank ETF by 0.4% in the fourth quarter. Wagner Wealth Management LLC now owns 158,509 shares of the company’s stock worth $5,990,000 after purchasing an additional 575 shares in the last quarter.

First Trust Nasdaq Bank ETF Trading Up 0.6%

FTXO stock traded up $0.26 during midday trading on Friday, hitting $42.37. The company’s stock had a trading volume of 88,346 shares, compared to its average volume of 603,217. The company has a market cap of $305.06 million, a PE ratio of 11.56 and a beta of 0.89. First Trust Nasdaq Bank ETF has a 12 month low of $32.57 and a 12 month high of $43.21. The firm’s 50-day moving average is $40.48 and its 200-day moving average is $38.86.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.2572 per share. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.4%.

First Trust Nasdaq Bank ETF Company Profile

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.