Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Expands By 432.6%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 81,961 shares, an increase of 432.6% from the June 15th total of 15,389 shares. Based on an average trading volume of 118,390 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.1% of the shares of the company are sold short.

First Trust Nasdaq Bank ETF Stock Performance

Shares of First Trust Nasdaq Bank ETF stock traded up $0.29 during trading on Friday, hitting $42.13. 143,749 shares of the stock were exchanged, compared to its average volume of 643,852. The stock’s fifty day moving average is $39.63 and its 200 day moving average is $38.58. The stock has a market cap of $305.44 million, a PE ratio of 11.56 and a beta of 0.89. First Trust Nasdaq Bank ETF has a 12 month low of $32.57 and a 12 month high of $42.63.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced 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 represents a $1.03 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FTXO. Wells Fargo & Company MN increased its stake in shares of First Trust Nasdaq Bank ETF by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock valued at $16,970,000 after purchasing an additional 65,420 shares during the period. Royal Bank of Canada boosted its position in shares of First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after buying an additional 203,378 shares during the period. Bank of America Corp DE boosted its position in shares of First Trust Nasdaq Bank ETF by 10.5% during the first quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock worth $10,423,000 after buying an additional 27,273 shares during the period. Raymond James Financial Inc. grew its holdings in First Trust Nasdaq Bank ETF by 22.6% in the 3rd quarter. Raymond James Financial Inc. now owns 198,974 shares of the company’s stock worth $7,085,000 after buying an additional 36,648 shares in the last quarter. Finally, Wagner Wealth Management LLC grew its holdings in First Trust Nasdaq Bank ETF by 0.4% in the 4th quarter. Wagner Wealth Management LLC now owns 158,509 shares of the company’s stock worth $5,990,000 after buying an additional 575 shares in the last quarter.

About First Trust Nasdaq Bank ETF

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.