First Trust Indxx NextG ETF (NASDAQ:NXTG) Short Interest Up 350.0% in May

First Trust Indxx NextG ETF (NASDAQ:NXTG) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 900 shares, an increase of 350.0% from the May 15th total of 200 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust Indxx NextG ETF

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in First Trust Indxx NextG ETF by 61.4% in the first quarter. PNC Financial Services Group Inc. now owns 468 shares of the company’s stock valued at $40,000 after acquiring an additional 178 shares during the period. Comerica Bank boosted its position in shares of First Trust Indxx NextG ETF by 22.1% during the first quarter. Comerica Bank now owns 1,347 shares of the company’s stock valued at $114,000 after buying an additional 244 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of First Trust Indxx NextG ETF by 6.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,791 shares of the company’s stock valued at $237,000 after buying an additional 175 shares during the last quarter. Riverchase Wealth Management LLC purchased a new position in shares of First Trust Indxx NextG ETF during the fourth quarter valued at approximately $275,000. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of First Trust Indxx NextG ETF by 7.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,588 shares of the company’s stock valued at $306,000 after buying an additional 263 shares during the last quarter.

First Trust Indxx NextG ETF Stock Performance

Shares of NXTG stock opened at $93.35 on Friday. The company has a market cap of $373.40 million, a P/E ratio of 22.16 and a beta of 0.89. The stock has a 50 day simple moving average of $88.05 and a two-hundred day simple moving average of $87.04. First Trust Indxx NextG ETF has a fifty-two week low of $74.03 and a fifty-two week high of $94.79.

First Trust Indxx NextG ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a $0.0804 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%.

First Trust Indxx NextG ETF Company Profile

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.