First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Sees Large Decrease in Short Interest

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 4,540 shares, a decline of 90.9% from the August 15th total of 49,911 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 35,958 shares, the short-interest ratio is presently 0.1 days.

First Trust Nasdaq Oil & Gas ETF Price Performance

Shares of NASDAQ FTXN traded down $0.12 during midday trading on Thursday, hitting $41.15. 60,143 shares of the company’s stock were exchanged, compared to its average volume of 523,211. First Trust Nasdaq Oil & Gas ETF has a twelve month low of $26.46 and a twelve month high of $41.91. The firm has a market cap of $179.00 million, a P/E ratio of 11.81 and a beta of 0.48. The stock’s 50 day moving average price is $37.94 and its 200-day moving average price is $36.71.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.1168 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.47 annualized dividend and a yield of 1.1%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Tudor Financial Inc. acquired a new position in First Trust Nasdaq Oil & Gas ETF during the 2nd quarter valued at about $860,000. WCG Wealth Advisors LLC bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth about $2,002,000. Citadel Advisors LLC lifted its stake in shares of First Trust Nasdaq Oil & Gas ETF by 405.7% in the 2nd quarter. Citadel Advisors LLC now owns 63,049 shares of the company’s stock worth $2,108,000 after acquiring an additional 50,582 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the 4th quarter worth approximately $471,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at approximately $25,000.

About First Trust Nasdaq Oil & Gas ETF

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.