First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSEARCA:CRPT) Sees Large Growth in Short Interest

First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSEARCA:CRPT) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 89,723 shares, an increase of 81.8% from the August 31st total of 49,349 shares. Based on an average daily volume of 58,762 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRPT. Cassaday & Co Wealth Management LLC purchased a new stake in First Trust SkyBridge Crypto Industry and Digital Economy ETF during the first quarter valued at about $57,000. Janney Montgomery Scott LLC boosted its holdings in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF by 10.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,758 shares of the company’s stock worth $149,000 after purchasing an additional 1,200 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF during the 1st quarter valued at about $151,000. Kestra Advisory Services LLC raised its holdings in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF by 145.8% during the 1st quarter. Kestra Advisory Services LLC now owns 25,261 shares of the company’s stock valued at $294,000 after buying an additional 14,985 shares in the last quarter. Finally, Brown Financial Advisors raised its holdings in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF by 17.2% during the 2nd quarter. Brown Financial Advisors now owns 26,174 shares of the company’s stock valued at $297,000 after buying an additional 3,839 shares in the last quarter.

First Trust SkyBridge Crypto Industry and Digital Economy ETF Trading Up 0.3%

Shares of NYSEARCA:CRPT traded up $0.05 during trading on Tuesday, reaching $15.79. The company had a trading volume of 45,407 shares, compared to its average volume of 89,932. The company has a fifty day moving average of $13.52 and a two-hundred day moving average of $13.41. The stock has a market capitalization of $118.42 million, a P/E ratio of -172.72 and a beta of 3.19. First Trust SkyBridge Crypto Industry and Digital Economy ETF has a 12 month low of $10.74 and a 12 month high of $24.84.

First Trust SkyBridge Crypto Industry and Digital Economy ETF Company Profile

The First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in companies supporting the crypto industry and the digital economy around the world. CRPT was launched on Sep 20, 2021 and is managed by First Trust.