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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 20,813 shares, a drop of 31.8% from the December 15th total of 30,501 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 78,848 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 78,848 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the company’s stock are sold short.

First Trust Nasdaq Bank ETF Price Performance

Shares of First Trust Nasdaq Bank ETF stock traded up $0.02 on Friday, hitting $38.39. The company had a trading volume of 35,750 shares, compared to its average volume of 74,395. The stock has a 50-day moving average of $37.00 and a 200-day moving average of $35.50. First Trust Nasdaq Bank ETF has a twelve month low of $25.05 and a twelve month high of $39.65. The firm has a market capitalization of $270.65 million, a P/E ratio of 11.56 and a beta of 0.97.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were paid a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, December 12th. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17.

Institutional Trading of First Trust Nasdaq Bank ETF

Several hedge funds and other institutional investors have recently modified their holdings of FTXO. Holistic Financial Partners acquired a new position in shares of First Trust Nasdaq Bank ETF during the fourth quarter worth about $957,000. JPMorgan Chase & Co. bought a new stake in First Trust Nasdaq Bank ETF in the 3rd quarter valued at approximately $37,000. IFP Advisors Inc lifted its stake in First Trust Nasdaq Bank ETF by 2.1% in the 3rd quarter. IFP Advisors Inc now owns 40,768 shares of the company’s stock valued at $1,452,000 after acquiring an additional 842 shares in the last quarter. NewEdge Advisors LLC boosted its position in First Trust Nasdaq Bank ETF by 6.4% during the 3rd quarter. NewEdge Advisors LLC now owns 25,436 shares of the company’s stock worth $906,000 after acquiring an additional 1,521 shares during the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of First Trust Nasdaq Bank ETF by 21.6% during the 3rd quarter. Susquehanna International Group LLP now owns 11,644 shares of the company’s stock worth $415,000 after acquiring an additional 2,065 shares in 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.