First Trust Water ETF (NYSEARCA:FIW) Sees Significant Drop in Short Interest

First Trust Water ETF (NYSEARCA:FIW) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,259 shares, a decline of 95.8% from the March 31st total of 29,961 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 51,378 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Water ETF Stock Down 0.3%

Shares of NYSEARCA:FIW traded down $0.32 during trading on Friday, hitting $108.28. 56,359 shares of the company were exchanged, compared to its average volume of 57,678. First Trust Water ETF has a 1-year low of $99.08 and a 1-year high of $116.30. The company has a market capitalization of $1.85 billion, a P/E ratio of 24.17 and a beta of 1.08. The business’s 50 day moving average is $107.50 and its 200-day moving average is $110.54.

Hedge Funds Weigh In On First Trust Water ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Prism Advisors Inc. boosted its stake in shares of First Trust Water ETF by 0.4% during the first quarter. Prism Advisors Inc. now owns 45,845 shares of the company’s stock valued at $4,728,000 after purchasing an additional 186 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of First Trust Water ETF by 15.2% in the first quarter. Princeton Global Asset Management LLC now owns 3,851 shares of the company’s stock valued at $397,000 after buying an additional 507 shares during the period. KFG Wealth Management LLC raised its holdings in First Trust Water ETF by 17.1% in the 1st quarter. KFG Wealth Management LLC now owns 5,848 shares of the company’s stock valued at $603,000 after buying an additional 852 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in First Trust Water ETF by 4.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 141,242 shares of the company’s stock valued at $14,566,000 after buying an additional 6,643 shares during the last quarter. Finally, White Pine Investment CO boosted its position in First Trust Water ETF by 1.3% during the 1st quarter. White Pine Investment CO now owns 47,814 shares of the company’s stock worth $4,931,000 after buying an additional 612 shares during the period.

First Trust Water ETF Company Profile

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.