Short Interest in First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Expands By 422.5%

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 20,198 shares, an increase of 422.5% from the June 30th total of 3,866 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 80,179 shares, the short-interest ratio is presently 0.3 days.

First Trust Indxx Aerospace & Defense ETF Stock Performance

MISL stock traded up $0.05 during midday trading on Friday, hitting $43.48. 364,292 shares of the stock were exchanged, compared to its average volume of 415,794. The stock’s 50-day moving average price is $45.48 and its 200-day moving average price is $46.72. The stock has a market cap of $750.03 million, a price-to-earnings ratio of 28.78 and a beta of 0.67. First Trust Indxx Aerospace & Defense ETF has a fifty-two week low of $37.76 and a fifty-two week high of $51.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in shares of First Trust Indxx Aerospace & Defense ETF during the 4th quarter worth $30,000. Pinnacle Bancorp Inc. acquired a new stake in First Trust Indxx Aerospace & Defense ETF in the 1st quarter valued at about $36,000. Geneos Wealth Management Inc. increased its holdings in First Trust Indxx Aerospace & Defense ETF by 500.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,200 shares of the company’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Arax Advisory Partners purchased a new position in First Trust Indxx Aerospace & Defense ETF during the 4th quarter valued at about $37,000. Finally, Advisory Services Network LLC acquired a new position in First Trust Indxx Aerospace & Defense ETF during the third quarter worth about $37,000.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.