First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Sees Significant Increase in Short Interest

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,131 shares, an increase of 950.7% from the July 30th total of 298 shares. Based on an average daily volume of 12,958 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Bloomberg Emerging Market Democracies ETF

Hedge funds have recently modified their holdings of the stock. NI Acquisitions Company LLC purchased a new position in shares of First Trust Bloomberg Emerging Market Democracies ETF in the second quarter worth about $1,406,000. Compass Financial Management LLC acquired a new stake in First Trust Bloomberg Emerging Market Democracies ETF during the 2nd quarter worth $2,853,000. GeoWealth Management LLC purchased a new stake in shares of First Trust Bloomberg Emerging Market Democracies ETF in the fourth quarter valued at approximately $862,000. Finally, Naples Global Advisors LLC grew its holdings in First Trust Bloomberg Emerging Market Democracies ETF by 3.1% in the 4th quarter. Naples Global Advisors LLC now owns 56,601 shares of the company’s stock valued at $1,774,000 after buying an additional 1,710 shares in the last quarter.

First Trust Bloomberg Emerging Market Democracies ETF Stock Down 0.4%

NYSEARCA:EMDM traded down $0.15 during midday trading on Wednesday, hitting $42.30. The stock had a trading volume of 4,472 shares, compared to its average volume of 10,324. The company has a market capitalization of $40.19 million, a price-to-earnings ratio of 12.05 and a beta of 0.87. The stock has a 50-day moving average of $41.37 and a 200 day moving average of $39.65. First Trust Bloomberg Emerging Market Democracies ETF has a one year low of $25.44 and a one year high of $45.03.

About First Trust Bloomberg Emerging Market Democracies ETF

The First Trust Exchange-Traded Fun (EMDM) is an exchange-traded fund that mostly invests in total market equity. The fund follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization. EMDM was launched on Mar 2, 2023 and is managed by First Trust.