Short Interest in First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) Expands By 20,830.6%

First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 76,606 shares, a growth of 20,830.6% from the February 26th total of 366 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average trading volume of 23,203 shares, the days-to-cover ratio is presently 3.3 days.

First Trust Dow Jones International Internet ETF Stock Performance

Shares of FDNI opened at $27.73 on Thursday. The stock has a market capitalization of $45.75 million, a P/E ratio of 21.90 and a beta of 0.84. The company’s fifty day moving average is $30.60 and its two-hundred day moving average is $34.30. First Trust Dow Jones International Internet ETF has a 1 year low of $25.82 and a 1 year high of $39.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sankala Group LLC purchased a new stake in shares of First Trust Dow Jones International Internet ETF in the 4th quarter worth about $30,000. Wells Fargo & Company MN acquired a new position in shares of First Trust Dow Jones International Internet ETF in the fourth quarter worth about $57,000. ICONIQ Capital LLC purchased a new position in First Trust Dow Jones International Internet ETF in the fourth quarter valued at about $79,000. Newbridge Financial Services Group Inc. acquired a new position in shares of First Trust Dow Jones International Internet ETF in the 2nd quarter valued at approximately $102,000. Finally, Fountainhead AM LLC acquired a new stake in shares of First Trust Dow Jones International Internet ETF during the third quarter worth approximately $218,000.

About First Trust Dow Jones International Internet ETF

The First Trust Dow Jones International Internet ETF (FDNI) is an exchange-traded fund that is based on the Dow Jones International Internet index, a market-cap-weighted index that holds a concentrated portfolio of the largest internet services and commerce companies outside of the US. FDNI was launched on Nov 5, 2018 and is managed by First Trust.