First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Sees Significant Drop in Short Interest

First Trust Innovation Leaders ETF (NYSEARCA:ILDR) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 14,175 shares, a decrease of 96.3% from the July 15th total of 387,929 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 46,954 shares, the short-interest ratio is currently 0.3 days.

First Trust Innovation Leaders ETF Trading Up 1.0%

ILDR stock traded up $0.41 during mid-day trading on Wednesday, hitting $39.58. The stock had a trading volume of 29,657 shares, compared to its average volume of 62,148. The firm has a fifty day simple moving average of $37.99 and a 200 day simple moving average of $34.86. The firm has a market capitalization of $320.60 million, a P/E ratio of 39.35 and a beta of 1.30. First Trust Innovation Leaders ETF has a 52 week low of $28.19 and a 52 week high of $40.99.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Watch Advisors INC raised its position in First Trust Innovation Leaders ETF by 6.0% during the first quarter. Wealth Watch Advisors INC now owns 73,868 shares of the company’s stock valued at $2,200,000 after purchasing an additional 4,209 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of First Trust Innovation Leaders ETF by 142.1% in the 1st quarter. Cetera Investment Advisers now owns 272,975 shares of the company’s stock valued at $8,129,000 after purchasing an additional 160,204 shares during the last quarter. Legacy Wealth Managment LLC ID acquired a new position in shares of First Trust Innovation Leaders ETF during the 1st quarter worth $770,000. Assetmark Inc. lifted its position in shares of First Trust Innovation Leaders ETF by 15.3% during the 1st quarter. Assetmark Inc. now owns 233,218 shares of the company’s stock worth $6,945,000 after buying an additional 30,989 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in First Trust Innovation Leaders ETF by 42.4% in the first quarter. Sanctuary Advisors LLC now owns 99,914 shares of the company’s stock valued at $2,975,000 after buying an additional 29,731 shares in the last quarter.

First Trust Innovation Leaders ETF Company Profile

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.