Short Interest in First Trust Growth Strength ETF (NASDAQ:FTGS) Decreases By 54.9%

First Trust Growth Strength ETF (NASDAQ:FTGS) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 29,910 shares, a drop of 54.9% from the June 30th total of 66,285 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 115,618 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Growth Strength ETF Trading Down 0.3%

FTGS stock traded down $0.10 during trading on Wednesday, hitting $37.80. The company had a trading volume of 64,141 shares, compared to its average volume of 139,151. The company has a fifty day moving average price of $37.26 and a two-hundred day moving average price of $36.18. The company has a market cap of $1.28 billion, a P/E ratio of 23.90 and a beta of 1.02. First Trust Growth Strength ETF has a fifty-two week low of $33.00 and a fifty-two week high of $38.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FTGS. Rothschild Investment LLC acquired a new stake in First Trust Growth Strength ETF in the 4th quarter valued at about $28,000. Capital Investment Advisory Services LLC lifted its position in shares of First Trust Growth Strength ETF by 6,214.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 884 shares of the company’s stock worth $31,000 after purchasing an additional 870 shares in the last quarter. Allworth Financial LP bought a new stake in shares of First Trust Growth Strength ETF during the third quarter valued at approximately $32,000. Cullen Frost Bankers Inc. grew its stake in shares of First Trust Growth Strength ETF by 58.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after purchasing an additional 385 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of First Trust Growth Strength ETF by 100.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock valued at $40,000 after purchasing an additional 557 shares in the last quarter.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.