First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Short Interest Up 819.2% in July

First Trust Innovation Leaders ETF (NYSEARCA:ILDR) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 387,929 shares, a growth of 819.2% from the June 30th total of 42,202 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 67,237 shares, the days-to-cover ratio is presently 5.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC purchased a new stake in shares of First Trust Innovation Leaders ETF during the 4th quarter worth approximately $40,000. Bank of America Corp DE grew its holdings in shares of First Trust Innovation Leaders ETF by 328.5% in the 3rd quarter. Bank of America Corp DE now owns 2,794 shares of the company’s stock worth $90,000 after acquiring an additional 2,142 shares during the period. Triumph Capital Management purchased a new position in First Trust Innovation Leaders ETF in the 3rd quarter valued at approximately $136,000. Geneos Wealth Management Inc. purchased a new position in First Trust Innovation Leaders ETF in the 2nd quarter valued at approximately $150,000. Finally, Fifth Third Bancorp increased its stake in First Trust Innovation Leaders ETF by 690.2% in the 1st quarter. Fifth Third Bancorp now owns 5,152 shares of the company’s stock valued at $153,000 after purchasing an additional 4,500 shares in the last quarter.

First Trust Innovation Leaders ETF Stock Down 1.5%

Shares of NYSEARCA ILDR opened at $36.27 on Friday. The stock has a market capitalization of $282.91 million, a price-to-earnings ratio of 39.35 and a beta of 1.29. First Trust Innovation Leaders ETF has a 52 week low of $28.19 and a 52 week high of $40.99. The firm has a 50-day moving average price of $38.18 and a 200 day moving average price of $34.53.

First Trust Innovation Leaders ETF Company Profile

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.