Short Interest in First Trust Growth Strength ETF (NASDAQ:FTGS) Expands By 61.5%

First Trust Growth Strength ETF (NASDAQ:FTGS) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 48,732 shares, a growth of 61.5% from the July 30th total of 30,173 shares. Based on an average trading volume of 98,536 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

First Trust Growth Strength ETF Stock Down 0.6%

Shares of NASDAQ:FTGS traded down $0.24 during trading on Monday, hitting $39.24. 69,412 shares of the company traded hands, compared to its average volume of 134,557. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 23.90 and a beta of 1.01. The business’s fifty day moving average is $38.36 and its 200-day moving average is $36.72. First Trust Growth Strength ETF has a one year low of $33.00 and a one year high of $40.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in First Trust Growth Strength ETF in the second quarter worth $27,000. Rothschild Investment LLC bought a new position in shares of First Trust Growth Strength ETF during the fourth quarter worth about $28,000. Allworth Financial LP bought a new position in shares of First Trust Growth Strength ETF during the third quarter worth about $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of First Trust Growth Strength ETF by 58.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock worth $37,000 after acquiring an additional 385 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of First Trust Growth Strength ETF by 100.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock worth $40,000 after acquiring an additional 557 shares during the period.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.