First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Growth in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 41,625 shares, an increase of 1,667.5% from the July 30th total of 2,355 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 65,429 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont bought a new position in shares of First Trust Nasdaq Bank ETF during the 2nd quarter worth approximately $27,000. Comerica Bank bought a new stake in First Trust Nasdaq Bank ETF in the 1st quarter valued at $28,000. Fifth Third Bancorp bought a new stake in First Trust Nasdaq Bank ETF in the 1st quarter valued at $30,000. JPMorgan Chase & Co. acquired a new stake in First Trust Nasdaq Bank ETF during the 3rd quarter valued at $37,000. Finally, NBC Securities Inc. lifted its holdings in First Trust Nasdaq Bank ETF by 22.5% during the 4th quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock valued at $62,000 after purchasing an additional 301 shares during the last quarter.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ:FTXO traded down $0.03 during mid-day trading on Tuesday, hitting $41.90. The stock had a trading volume of 231,202 shares, compared to its average volume of 532,396. First Trust Nasdaq Bank ETF has a twelve month low of $32.90 and a twelve month high of $44.12. The stock has a market cap of $303.77 million, a price-to-earnings ratio of 11.56 and a beta of 0.89. The company’s 50 day simple moving average is $42.23 and its 200 day simple moving average is $39.49.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a $0.2572 dividend. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. This represents a $1.03 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, June 25th.

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.