First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 2,355 shares, a drop of 65.3% from the July 15th total of 6,786 shares. Based on an average daily trading volume, of 79,785 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

First Trust Nasdaq Bank ETF Trading Up 0.5%

FTXO stock traded up $0.22 during mid-day trading on Friday, hitting $43.88. 61,141 shares of the company were exchanged, compared to its average volume of 551,964. The company has a market capitalization of $318.13 million, a PE ratio of 11.56 and a beta of 0.89. First Trust Nasdaq Bank ETF has a twelve month low of $32.90 and a twelve month high of $43.99. The firm has a fifty day simple moving average of $41.94 and a 200 day simple moving average of $39.32.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.2572 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 25th. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont bought a new position in First Trust Nasdaq Bank ETF during the 2nd quarter worth $27,000. Fifth Third Bancorp acquired a new position in shares of First Trust Nasdaq Bank ETF in the 1st quarter worth approximately $30,000. Comerica Bank acquired a new position in First Trust Nasdaq Bank ETF in the first quarter worth approximately $28,000. JPMorgan Chase & Co. acquired a new stake in shares of First Trust Nasdaq Bank ETF during the third quarter worth $37,000. Finally, NBC Securities Inc. raised its holdings in First Trust Nasdaq Bank ETF by 22.5% during the 4th quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after buying an additional 301 shares during the period.

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.