First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Stock Short Interest Climbs 629.8%

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 69,113 shares, a growth of 629.8% from the September 30th total of 9,470 shares. Based on an average daily volume of 175,224 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

First Trust Nasdaq Pharmaceuticals ETF Trading Up 1.2%

Shares of FTXH traded up $0.50 during mid-day trading on Thursday, reaching $43.75. The company’s stock had a trading volume of 4,349 shares, compared to its average volume of 224,984. The stock has a market cap of $1.16 billion, a P/E ratio of 14.51 and a beta of 0.45. First Trust Nasdaq Pharmaceuticals ETF has a 1-year low of $29.45 and a 1-year high of $44.19. The business has a 50-day simple moving average of $41.60 and a two-hundred day simple moving average of $37.09.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a dividend of $0.0113 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.1%. This is a decrease from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920. The ex-dividend date was Thursday, September 24th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Englebert Financial Advisers LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF during the third quarter worth approximately $751,000. Cyndeo Wealth Partners LLC bought a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the third quarter worth $1,524,000. Oppenheimer & Co. Inc. bought a new stake in First Trust Nasdaq Pharmaceuticals ETF during the third quarter worth about $6,014,000. Trust Co. of Oklahoma bought a new position in First Trust Nasdaq Pharmaceuticals ETF in the 3rd quarter valued at about $1,283,000. Finally, MinichMacGregor Wealth Management LLC acquired a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the 3rd quarter valued at approximately $968,000.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.