Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Increases By 2,523.5%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 961,921 shares, a growth of 2,523.5% from the February 12th total of 36,665 shares. Based on an average trading volume of 4,278,502 shares, the short-interest ratio is presently 0.2 days. Approximately 13.7% of the shares of the company are short sold. Approximately 13.7% of the shares of the company are short sold. Based on an average trading volume of 4,278,502 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its holdings in First Trust Nasdaq Bank ETF by 220.0% during the 4th quarter. NewEdge Advisors LLC now owns 81,407 shares of the company’s stock valued at $3,076,000 after acquiring an additional 55,971 shares during the period. Pacific Excel Wealth Advisors Inc. bought a new position in shares of First Trust Nasdaq Bank ETF in the fourth quarter worth $288,000. Osaic Holdings Inc. grew its position in shares of First Trust Nasdaq Bank ETF by 31.7% in the fourth quarter. Osaic Holdings Inc. now owns 41,797 shares of the company’s stock valued at $1,579,000 after purchasing an additional 10,063 shares in the last quarter. Royal Bank of Canada grew its position in shares of First Trust Nasdaq Bank ETF by 27.8% in the fourth quarter. Royal Bank of Canada now owns 94,058 shares of the company’s stock valued at $3,554,000 after purchasing an additional 20,470 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in First Trust Nasdaq Bank ETF by 92.6% during the 4th quarter. Stifel Financial Corp now owns 39,559 shares of the company’s stock worth $1,495,000 after purchasing an additional 19,015 shares in the last quarter.

First Trust Nasdaq Bank ETF Price Performance

NASDAQ:FTXO traded up $0.03 on Tuesday, reaching $35.91. 434,835 shares of the company’s stock were exchanged, compared to its average volume of 955,590. The firm has a market cap of $251.37 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. The stock has a fifty day simple moving average of $38.63 and a 200-day simple moving average of $36.74. First Trust Nasdaq Bank ETF has a 52 week low of $25.05 and a 52 week high of $41.57.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were paid a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, December 12th. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17.

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.