Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Declines By 65.3%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 2,355 shares, a drop of 65.3% from the July 15th total of 6,786 shares. Based on an average daily trading volume, of 79,785 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new stake in First Trust Nasdaq Bank ETF during the 4th quarter worth about $4,465,000. NewEdge Advisors LLC grew its holdings in shares of First Trust Nasdaq Bank ETF by 66.3% in the 1st quarter. NewEdge Advisors LLC now owns 135,378 shares of the company’s stock valued at $4,897,000 after acquiring an additional 53,971 shares in the last quarter. Puff Wealth Management LLC acquired a new stake in shares of First Trust Nasdaq Bank ETF in the second quarter valued at about $786,000. World Investment Advisors increased its position in shares of First Trust Nasdaq Bank ETF by 47.0% in the first quarter. World Investment Advisors now owns 51,789 shares of the company’s stock valued at $1,873,000 after acquiring an additional 16,561 shares during the last quarter. Finally, Beto Financial Group LLC bought a new stake in First Trust Nasdaq Bank ETF during the fourth quarter worth about $526,000.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ FTXO traded up $0.22 during trading on Friday, hitting $43.88. The stock had a trading volume of 61,141 shares, compared to its average volume of 551,964. First Trust Nasdaq Bank ETF has a 12 month low of $32.90 and a 12 month high of $43.99. The company’s 50-day moving average price is $41.94 and its two-hundred day moving average price is $39.32. The company has a market capitalization of $318.13 million, a PE ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.2572 dividend. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 25th.

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.