First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Down 84.4% in March

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 150,397 shares, a decrease of 84.4% from the February 26th total of 961,921 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 494,361 shares, the short-interest ratio is presently 0.3 days.

First Trust Nasdaq Bank ETF Price Performance

NASDAQ:FTXO traded down $0.31 during midday trading on Thursday, reaching $35.76. The stock had a trading volume of 1,561,024 shares, compared to its average volume of 888,023. The stock has a market capitalization of $250.32 million, a P/E ratio of 11.56 and a beta of 0.97. First Trust Nasdaq Bank ETF has a 1-year low of $25.05 and a 1-year high of $41.57. The firm’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $36.69.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FTXO. Comerica Bank acquired a new position in shares of First Trust Nasdaq Bank ETF during the 1st quarter worth about $28,000. Rossby Financial LCC boosted its stake in First Trust Nasdaq Bank ETF by 148.6% during the 3rd quarter. Rossby Financial LCC now owns 865 shares of the company’s stock valued at $30,000 after purchasing an additional 517 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in First Trust Nasdaq Bank ETF in the 4th quarter valued at approximately $37,000. JPMorgan Chase & Co. acquired a new stake in First Trust Nasdaq Bank ETF in the 3rd quarter valued at approximately $37,000. Finally, Steward Partners Investment Advisory LLC increased its position in First Trust Nasdaq Bank ETF by 136.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,378 shares of the company’s stock worth $46,000 after buying an additional 794 shares during the period.

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.