First Trust US Equity Opportunities ETF (NYSEARCA:FPX) Sees Large Decline in Short Interest

First Trust US Equity Opportunities ETF (NYSEARCA:FPX) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 7,198 shares, a drop of 53.4% from the September 15th total of 15,442 shares. Based on an average daily trading volume, of 16,149 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

First Trust US Equity Opportunities ETF Price Performance

Shares of FPX stock traded down $1.28 during trading hours on Tuesday, reaching $177.15. 12,349 shares of the company traded hands, compared to its average volume of 36,445. The firm has a 50-day moving average price of $181.57 and a 200 day moving average price of $183.38. The company has a market cap of $1.44 billion, a P/E ratio of 32.81 and a beta of 1.29. First Trust US Equity Opportunities ETF has a 12-month low of $146.01 and a 12-month high of $206.18.

Hedge Funds Weigh In On First Trust US Equity Opportunities ETF

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of First Trust US Equity Opportunities ETF by 43.3% in the first quarter. Bank of America Corp DE now owns 204,237 shares of the company’s stock worth $32,435,000 after purchasing an additional 61,752 shares during the period. Royal Bank of Canada increased its stake in shares of First Trust US Equity Opportunities ETF by 57.7% in the first quarter. Royal Bank of Canada now owns 112,977 shares of the company’s stock worth $17,941,000 after purchasing an additional 41,319 shares in the last quarter. Cetera Investment Advisers raised its position in shares of First Trust US Equity Opportunities ETF by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 86,687 shares of the company’s stock valued at $13,767,000 after purchasing an additional 3,024 shares during the period. Cassia Capital Partners LLC raised its position in shares of First Trust US Equity Opportunities ETF by 4.2% during the 1st quarter. Cassia Capital Partners LLC now owns 58,822 shares of the company’s stock valued at $9,342,000 after purchasing an additional 2,392 shares during the period. Finally, Ocean Park Asset Management LLC bought a new stake in shares of First Trust US Equity Opportunities ETF during the 2nd quarter valued at $10,376,000.

About First Trust US Equity Opportunities ETF

First Trust US IPO Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the IPOX-100 U.S. Index (the Index). The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index. The Index is a modified value-weighted price index measuring the performance of the top 100 United States companies ranked quarterly by market capitalization in the IPOX Global Composite Index. The Index utilizes a 10% capping on all constituents and includes the 100 largest, typically best-performing and most liquid initial public offerings (IPOs) of the United States companies in the IPOX Global Composite Index.