First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Increase in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 71,079 shares, an increase of 70.8% from the August 15th total of 41,625 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 88,094 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of First Trust Nasdaq Bank ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of First Trust Nasdaq Bank ETF during the second quarter valued at approximately $144,000. NewEdge Advisors LLC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 154,964 shares of the company’s stock worth $6,405,000 after purchasing an additional 4,964 shares during the last quarter. IFP Advisors Inc boosted its position in First Trust Nasdaq Bank ETF by 2.2% during the 2nd quarter. IFP Advisors Inc now owns 32,378 shares of the company’s stock valued at $1,338,000 after purchasing an additional 705 shares during the period. Tucker Asset Management LLC boosted its position in First Trust Nasdaq Bank ETF by 18.8% during the 2nd quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock valued at $64,000 after purchasing an additional 245 shares during the period. Finally, Compass Financial Management LLC bought a new position in First Trust Nasdaq Bank ETF during the 2nd quarter worth $104,000.

First Trust Nasdaq Bank ETF Trading Down 0.6%

NASDAQ:FTXO traded down $0.24 during trading hours on Friday, hitting $40.48. The stock had a trading volume of 43,905 shares, compared to its average volume of 487,732. The business has a 50 day simple moving average of $42.36 and a two-hundred day simple moving average of $39.78. First Trust Nasdaq Bank ETF has a 1-year low of $32.90 and a 1-year high of $44.12. The company has a market cap of $293.49 million, a PE ratio of 11.56 and a beta of 0.88.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.2572 per share. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a yield of 2.5%.

First Trust Nasdaq Bank ETF Company Profile

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.