First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Sees Significant Growth in Short Interest

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,131 shares, an increase of 950.7% from the July 30th total of 298 shares. Based on an average daily volume of 12,958 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the company are short sold.

First Trust Bloomberg Emerging Market Democracies ETF Price Performance

Shares of NYSEARCA:EMDM traded up $0.77 on Tuesday, reaching $42.45. The company’s stock had a trading volume of 3,730 shares, compared to its average volume of 10,365. The stock’s 50-day moving average is $41.37 and its two-hundred day moving average is $39.65. The stock has a market capitalization of $40.33 million, a P/E ratio of 12.05 and a beta of 0.87. First Trust Bloomberg Emerging Market Democracies ETF has a 52-week low of $25.44 and a 52-week high of $45.03.

Institutional Investors Weigh In On First Trust Bloomberg Emerging Market Democracies ETF

Hedge funds have recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in shares of First Trust Bloomberg Emerging Market Democracies ETF in the 4th quarter valued at approximately $862,000. NI Acquisitions Company LLC acquired a new stake in First Trust Bloomberg Emerging Market Democracies ETF in the 2nd quarter valued at about $1,406,000. Naples Global Advisors LLC grew its position in shares of First Trust Bloomberg Emerging Market Democracies ETF by 3.1% in the fourth quarter. Naples Global Advisors LLC now owns 56,601 shares of the company’s stock valued at $1,774,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new position in shares of First Trust Bloomberg Emerging Market Democracies ETF in the second quarter worth $2,853,000.

First Trust Bloomberg Emerging Market Democracies ETF Company Profile

The First Trust Exchange-Traded Fun (EMDM) is an exchange-traded fund that mostly invests in total market equity. The fund follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization. EMDM was launched on Mar 2, 2023 and is managed by First Trust.